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Mar 31, 2020
Kimberly-Clark Q1 2020 Earnings Report
Reported first quarter 2020 results with net sales increasing 8% and organic sales growing 11%.
Key Takeaways
Kimberly-Clark's first quarter 2020 results showed an 8% increase in net sales to $5.0 billion compared to the previous year, with organic sales growth of 11%. Diluted net income per share was $1.92, and adjusted earnings per share were $2.13, a 28% increase. Cash provided by operations was $704 million. Due to the uncertainty related to the COVID-19 pandemic, the company is withdrawing its previous full-year 2020 financial outlook.
Net sales increased 8% to $5.0 billion, including 11% organic sales growth.
Diluted net income per share was $1.92, up from $1.31 in the previous year.
Adjusted earnings per share increased 28% to $2.13, compared to $1.66 in the prior year.
Cash from operations was $704 million, a significant increase from $317 million in the previous year.
Forward Guidance
Due to the rapidly evolving situation and the high degree of uncertainty related to the duration and potential impacts of COVID-19, the company is withdrawing its previous 2020 guidance and not providing any additional outlook at this time. The company is temporarily suspending its share repurchase program effective April 24, 2020 for at least the remainder of the second quarter to enhance flexibility in the current environment.
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