(RTTNews) - While reporting financial results for the first quarter on Friday, consumer products firm Kimberly-Clark Corp. (KMB) trimmed its adjusted earnings and sales growth guidance for the full-year 2021.
For fiscal 2021, the company now projects adjusted earnings in a range of $7.30 to $7.55 per share on net sales growth of 3 to 5 percent, with organic sales growth of flat to 1 percent.
Previously, the company expected adjusted earnings in the range of $7.75 to $8.00 per share on net sales growth of 4 to 6 percent, with organic sales growth of 1 to 2 percent.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $7.75 per share on sales growth of 4.4 percent to $19.98 billion for the year. Analysts' estimates usually exclude special items.
Kimberly-Clark said it expects the global restructuring program initiated in January 2018 to be completed in 2021. As part of the program, Kimberly-Clark expects to exit or divest some low-margin businesses that generate about 1 percent of company net sales.
The company also expects total restructuring charges to be $2.0 billion to $2.1 billion pre-tax or $1.49 billion to $1.57 billion after tax. It will also generate annual pre-tax cost savings of $540 million to $560 million by the end of 2021.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
