01.24.17
Kimberly-Clark Corporation reported year-end 2016 results and provided its 2017 outlook and related key planning assumptions. Fourth quarter 2016 net sales of $4.5 billion were even with the prior year. Organic sales increased 1%—including 3% growth in developing and emerging markets. Changes in foreign currency exchange rates reduced sales by 1 percent.
Net sales in 2017 are expected to be similar to 2016, including organic sales growth of approximately 2%, said the company.
Chairman and Chief Executive Officer Thomas J. Falk commented, "Our full-year results were consistent with our previous outlook. While we experienced a challenging economic and competitive environment in 2016, our market share positions remained broadly healthy. We also achieved record cost savings, which helped us improve our margins and deliver bottom-line earnings in line with our guidance for the year. In addition, we generated strong cash flow and returned $2.1 billion to shareholders through dividends and share repurchases."
Falk added, "Looking to 2017, we will execute our Global Business Plan strategies in what we expect will be a continued difficult environment. Our teams will invest in innovation, marketing and targeted growth initiatives to keep our brands strong and help us compete effectively. We will also continue to manage our company with financial discipline, with a focus on cost savings, cash flow and shareholder-friendly capital allocation. We remain optimistic about our opportunities to create long-term shareholder value."
Net sales in 2017 are expected to be similar to 2016, including organic sales growth of approximately 2%, said the company.
Chairman and Chief Executive Officer Thomas J. Falk commented, "Our full-year results were consistent with our previous outlook. While we experienced a challenging economic and competitive environment in 2016, our market share positions remained broadly healthy. We also achieved record cost savings, which helped us improve our margins and deliver bottom-line earnings in line with our guidance for the year. In addition, we generated strong cash flow and returned $2.1 billion to shareholders through dividends and share repurchases."
Falk added, "Looking to 2017, we will execute our Global Business Plan strategies in what we expect will be a continued difficult environment. Our teams will invest in innovation, marketing and targeted growth initiatives to keep our brands strong and help us compete effectively. We will also continue to manage our company with financial discipline, with a focus on cost savings, cash flow and shareholder-friendly capital allocation. We remain optimistic about our opportunities to create long-term shareholder value."