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Kimberly Clark Shares Drop 4.8% as Company Sees Weaker Earnings Growth in 2024

moomoo News · Jan 24 13:31

by Luzi Ann Santos | moomoo News

$Kimberly-Clark (KMB.US)$ shares declined after the company issued weaker 2024 earnings growth outlook, hurt by fluctuations in foreign exchange rates in countries where the company distributes its products including Huggies, Kleenex and Cottonelle.

The company expects 2024 adjusted earnings per share to grow at a high single-digit rate on a constant-currency basis from a year earlier. For 2023, the company posted a 17% jump in adjusted EPS, according to its press release Wednesday.

Net sales growth is forecast to take a 300-basis point hit from currency translation and 60 basis points from the Brazil Tissue divestiture, it said.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

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