Kimberly-Clark Slashes 2018 Adj EPS Outlook - Quick Facts

(RTTNews) - Consumer products firm Kimberly-Clark Corp. (KMB) announced Tuesday a reduction in adjusted earnings guidance for fiscal 2018, hurt by significantly higher commodity costs and the recent weakening of most foreign currencies, partially offset by increased cost savings and reduced overhead spending.

The company is now targeting full-year 2018 adjusted earnings in the range of $6.60 to $6.80 per share, down from the prior target range of $6.90 to $7.20 per share. Reported earnings are anticipated to be $3.37 to $3.87 per share.

However, the company maintained its organic sales growth target of about 1 percent for the year.

Second-quarter earnings per share decreased to $1.30 from $1.49 in the prior year. Excluding items, adjusted earnings were $1.59 per share. Net sales grew 1 percent to $4.60 billion from last year's $4.58 billion. Changes in foreign currency exchange rates benefited sales by 1 percent while organic sales were even year-on-year.