Kimberly-Clark 2Q Hit by Higher Input Costs, Reversal in Demand

By Dave Sebastian

Kimberly-Clark Corp. said it is absorbing higher input costs and seeing a reversal in consumer tissue volumes from last year's hot demand.

"Our second quarter reflects continued pandemic-driven volatility," Chairman and Chief Executive Officer Mike Hsu said Friday. "We have moved decisively to take pricing actions to mitigate inflationary headwinds and continue to prudently manage costs."

The Texas-based maker of paper and fiber products posted net income attributable to the company of $404 million for the second quarter, down from $681 million in the prior year. Earnings were $1.19 a share, compared with $1.99 a share in the year-ago period.

Adjusted earnings were $1.47 a share. Analysts polled by FactSet were expecting $1.71 a share.

Sales rose to $4.72 billion from $4.61 billion. Analysts were looking for $4.77 billion.

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(END) Dow Jones Newswires

07-23-21 0807ET