Kimberly-Clark Corporation recently reported first quarter 2014 results and confirmed its previous guidance for full-year 2014 adjusted earnings per share.
First quarter 2014 net sales of $5.3 billion decreased 1 percent compared to the year-ago period. Organic sales rose 4 percent, including a 12 percent increase in K-C International. Organic sales exclude the impact of changes in foreign currency exchange rates and lower sales as a result of European strategic changes and pulp and tissue restructuring actions.
Diluted net income per share for the first quarter was $1.41 in 2014 and $1.36 in 2013.
First quarter adjusted earnings per share were $1.48 in 2014, even with the year-ago period. Performance benefited from organic sales growth, cost savings and lower selling, general and administrative expenses. On the other hand, comparisons were negatively impacted by unfavorable foreign currency exchange rates, input cost inflation and a high level of other income in the year-ago period. Adjusted earnings per share in both years exclude certain items described later in this press release.
The company continues to expect that adjusted earnings per share in 2014 will be between $6.00 and $6.20.
With brands such as Kleenex, Scott, Huggies, Pull-Ups, Kotex and Depend, Kimberly-Clark holds No. 1 or No. 2 share positions in more than 80 countries. Based in Irving, Texas, the company has approximately 56,000 employees.
