Sales Slide at KC

Kimberly-Clark Corporation reported third quarter 2015 results and updated its previous guidance for full-year 2015 organic sales growth and adjusted earnings per share.
 
Third quarter 2015 overall net sales fell 7% to $4.7 billion. Personal care sales fell 5% in $2.4 billion but rose 7% in North America.
For the nine months, sales decreased 6% to $14.1 billion.
 

 
Chairman and Chief Executive Officer Thomas J. Falk said, “We delivered another quarter of good financial results. Organic sales grew mid-single digits, with benefits from targeted growth initiatives, innovations and brand investments. We achieved significant cost savings and improved adjusted gross margin. In addition, our adjusted earnings per share from continuing operations set a new quarterly record and we allocated capital in shareholder-friendly ways. We are executing well in a challenging environment and are raising the low end of our previous guidance ranges for full-year organic sales growth and adjusted earnings per share.”
 
 Full-year 2015 organic sales growth is expected to be 4 to 5 percent compared to the company's prior expectation of 3 to 5 percent.