Canada will continue to be a major supplier of softwood lumber to the US in the next decade, with...
Kimberly-Clark 3Q sales down 2% to $4.6 billion
Kimberly-Clark Corporation reported 3Q 2018 results. Sales of $4.6 billion in the 3Q 2018 were down 2% compared to the year-ago period.
3Q operating profit was $669 million in 2018, including charges related to the 2018 Global Restructuring Program. 3Q adjusted operating profit was $798 million in 2018 compared to operating profit of $868 million in 2017. Results were impacted by $210 million of higher input costs, driven by $115 million in pulp and $65 million in other raw materials.
Chairman and CEO Thomas J. Falk said, "We delivered 1% organic sales growth in the third quarter, reflecting our initiatives to improve selling prices and product mix. While our profitability was impacted by significant commodity and currency headwinds, we continue to launch innovations, pursue our growth priorities and invest in our brands for long-term success. We also continue to manage our company with financial discipline, as we generated total cost savings of $145 million, reduced discretionary spending and returned approximately $520 million to shareholders through dividends and share repurchases. For the full year, we are confirming our previous outlook for organic sales growth and adjusted earnings per share."
For the first nine months of 2018, sales of $13.9 billion increased 1%. Year-to-date operating profit was $1,590 million in 2018, including charges related to the 2018 Global Restructuring Program. Year-to-date adjusted operating profit was $2,396 million in 2018 versus operating profit of $2,530 million in 2017.
Source: Lesprom Network