Kimberly-Clark Raises 2019 Outlook

(RTTNews) - Kimberly-Clark Corp. (KMB) raised its outlook for fiscal year 2019.

The company raised its 2019 net income per share outlook to a range of $5.50 to $5.90 from the prior estimate of $4.85 to $5.35.

The company now expects full-year 2019 organic sales growth of 3 percent and adjusted earnings per share of $6.65 to $6.80. The prior outlook was for organic sales growth of 2 percent and adjusted earnings per share of $6.50 to $6.70. Analysts polled by Thomson Reuters expect the company to report earnings of $6.72 per share for fiscal year 2019. Analysts' estimates typically exclude special items.

In January 2018, Kimberly-Clark initiated the 2018 Global Restructuring Program. The company expects the program will generate annual pre-tax cost savings of $500 million to $550 million by the end of 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 expects to incur restructuring charges of $1.350 billion to $1.500 billion by the end of 2020.