Kimberly-Clark Corporation (NYSE:KMB) opened lower, on fourth-quarter figures out Wednesday morning.
The Dallas-based KMB, manufacturer of, among other things, Kleenex Tissues, reported fourth quarter 2018 net sales were $4.6 billion, having decreased 1% from to the year-ago period. Changes in foreign currency exchange rates reduced sales by 4% while organic sales increased 3%.
Full-year 2018 net sales of $18.5 billion rose 1%, including organic sales growth of 1%.
Diluted net income per share for the fourth quarter was $1.18 in 2018 and $1.75 in 2017. Full-year diluted net income per share was $4.03 in 2018 and $6.40 in 2017.
Fourth-quarter adjusted earnings per share were $1.60 in 2018 and $1.57 in 2017. Full-year adjusted earnings per share were $6.61 in 2018, up 6% compared to $6.23 in 2017. The company's previous guidance was for earnings of $6.60 to $6.80.
Net sales in 2019 are expected to decrease between 1% and 2%, including a 3% to 4% negative impact from changes in foreign currency exchange rates.
Organic sales are expected to increase 2%.
Diluted net income per share for 2019 is anticipated to be $4.85 to $5.35, including 2018 Global Restructuring Program charges. Adjusted earnings per share in 2019 are expected to be $6.50 to $6.70, including year-over-year growth in adjusted operating profit and an increase in the adjusted effective tax rate.
Moreover, the company's Board of Directors has approved a 3% increase in the quarterly dividend for 2019, which is the 47th consecutive annual increase in the dividend.
Shares fell $2.08, or 1.8%, to $113.15
