Kimberly-Clark Corp. cut its annual forecast again as the maker of toilet paper household items struggles to navigate supply-chain disruptions and inflationary pressures.
Adjusted earnings will be US$6.05 to US$6.25 a share this year, the company said Monday in a statement as it reported third-quarter results, down from a prior projection of as much as US$6.90. It was the third consecutive quarter that Kimberly-Clark reduced its guidance.
The company has been “negatively impacted by significant inflation and supply-chain disruptions that increased our costs beyond what we anticipated,” Chief Executive Officer Mike Hsu said in the statement. Kimberly-Clark is raising prices to help counter the effects of a global supply-chain crisis that is “not likely to be resolved quickly.”
The shares fell 2.7 per cent as of 7:54 a.m. before regular trading in New York.
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