Kimberly-Clark Corporation recently reported its results for the first quarter of 2021, in which it recorded net sales of US$4.7 billion, which meant a decrease of 5 percent compared to the prior-year period, including an organic decline in sales of 8 percent.

Diluted net income per share for the first quarter was $1.72 in 2021 and $1.92 in 2020.
Adjusted earnings per share for the first quarter were $1.80 in 2021 compared to $2.13 in 2020. Adjusted earnings per share exclude certain items described below in this press release.
Diluted net income per share for 2021 is expected to be US$6.65 to US$7.15.

The company now targets full-year 2021 organic sales growth of 0 to 1 percent and adjusted earnings per share of $7.30 to $7.55. The previous outlook was organic sales growth of 1 to 2 percent and adjusted earnings per share of $7.75 to $8.00. The updated earnings outlook reflects significantly higher input cost inflation and lower sales volumes, partially offset by higher net selling prices and additional cost savings.

Chairman and Chief Executive Officer Mike Hsu said, "Our first quarter results and updated outlook reflect a volatile and challenging environment. First quarter comparisons were impacted by rising COVID-19-related stocks in the prior-year period, weakness in the consumer fabric category, and commodity inflation. We also experience temporary supply chain disruptions related to severe weather conditions in the southern part of the United States. Nonetheless, our market shares remain overall healthy as we take advantage of our enhanced trading capabilities. In addition, we continue to achieve significant cost savings, effective return to shareholders and are taking decisive action to mitigate the headwinds of raw materials."

Organic sales increased in Brazil, China, Eastern Europe, India and South Africa, but declined in Israel and most of the rest of Latin America.