** charts before earnings **
** charts after earnings **
Kimberly-Clark misses by $0.01, reports revs in-line; guides FY16 below estimates :
- Reports Q4 (Dec) earnings of $1.42 per share, excluding non-recurring items, $0.01 worse than the Capital IQ Consensus of $1.43; revenues fell 6.0% year/year to $4.54 bln vs the $4.57 bln Capital IQ Consensus.
- Changes in FX reduced sales 11% as a result of the weakening of most currencies relative to the U.S. dollar. Organic sales rose 5%, as volumes increased 4% and net selling prices improved 1%.
- Earnings performance benefited from organic sales growth, cost savings, input cost deflation and a lower share count. Comparisons were negatively impacted by unfavorable foreign currency exchange rate effects, increased marketing, research and general spending on a local currency basis and higher other expense.
- Co issues downside guidance for FY16, sees EPS +3-7% to $5.95-6.15, excluding non-recurring items, vs. $6.14 Capital IQ Consensus; sees FY16 revs -3% to flat to ~$18.0-18.6 bln vs. $18.7 bln Capital IQ Consensus.
- Organic sales growth of 3 to 5%, with volumes up 2 to 3% and changes in net selling prices and product mix, combined, up an additional 1 to 2%. Negative foreign currency exchange rate impact of 5 to 6%. Adjusted operating profit growth of 2 to 5%.
- Dividend expected to increase mid-single digits, subject to approval by the Board of Directors.
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