Paper products giant Kimberly-Clark has reported net sales of $4.6 billion in its second quarter of 2019, which is on a par to the same period last year.
According to the Kleenex-makers recently published 2019 results, its organic sales showed a 5% increase, while changes in foreign currency exchange rates reduced sales by 5%.
During the period its adjusted earnings per share were $1.67 in 2019 and $1.59 in 2018, the results showed.
"We made excellent progress in the second quarter," said Mike Hsu, chief executive officer.
"We delivered strong organic sales growth, gross margin improvement and higher earnings per share.”
Highlights
In addition, Hsu highlighted that the group generated $90 million of cost savings and returned '$520 million to shareholders through dividends and share repurchases,' during the period.
“We also continued to launch innovations, pursue our growth priorities and increase investments in our brands." He added.
“We're also increasing our growth investments behind our brands and in capabilities that will position us for longer-term success.
Full Year Forecast
Hsu forecasted that for the full year the group is raising its top-and bottom-line outlook, reflecting strong execution and an improving commodity environment.
Earlier this year, on the 23 January, the group had said that for 2019 it expected net sales to decrease 1-2%.
However, its recent guidance assumptions for the full-year 2019, showed a 1% net sales decrease year-on-year.
Adjusted operating profit growth of 3% to 5% versus its prior target of 1% to 4% for the year.
© 2019 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click sign-up to subscribe to Checkout.
