Kimberly-Clark Slides as Inflation Hurts Toilet Paper Maker
- CEO says company facing ‘significantly higher input costs’
- Second-quarter organic sales, profit miss analysts’ estimates
Photographer: Daniel Acker/Bloomberg
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Kimberly-Clark Corp.’s shares fell after the maker of household supplies missed Wall Street’s expectations for second-quarter earnings and trimmed its annual forecast, saying inflationary pressures and slowing toilet paper demand are hurting results.
Profit this year will be $6.65 to $6.90 a share, the company said Friday in a statement, down from a prior expectation of as much as $7.55. It also reduced its projection for net sales growth to a range of 1% to 4%.