kimberly-clark corp (KMB) Key Developments
Kimberly-Clark Elects Michael D. White to its Board of Directors
Jun 22 15
Kimberly-Clark announced that Michael D. White, chairman, president and CEO for DIRECTV, was elected to its board of directors, effective September 1, 2015.
Kimberly-Clark Corporation Seeks Acquisitions
May 28 15
Kimberly-Clark Corporation (NYSE:KMB) is seeking acquisitions. Thomas Falk, Chairman and Chief Executive Officer, says on acquisitions, "Yes, we've got so much opportunity on the organic front that I really want to invest in that and chase that. And I think when you do inorganic stuff, it just by definition distracts you for a while as you have to integrate, and we've got fantastic brands and rich spaces, and we're going to go drive the heck out of it." Falk adds, "Brazil, there are lots of small players in categories. I think there are still 30 or 40 different diaper manufacturers around various parts of Brazil. But some of them are like one-machine type small operations that you wouldn't want to go after. There are some others that could be acquisition candidates at some point in time. But at this point, I'd say we're delivering great growth from our organic portfolio in Brazil, and we'll keep driving that."
Kimberly-Clark Settles Disputes with Balcones Recycling
May 7 15
A 2013 federal court lawsuit accusing a Little Rock recycling company of diverting defective tampons manufactured in Conway to be sold on the "gray market" was dismissed at the request of both sides. A one-paragraph motion to dismiss that said only that the Kimberly-Clark company and Balcones Recycling Inc. 'have resolved their disputes' was granted by U.S. District Judge James Moody Jr. a short time after it was filed. The disputed distribution was announced to have occurred between Oct. 1, 2011, and June 28, 2012, but Brand announced at the time that although the substandard tampons posed potential health risks, the company wasn't aware of any injuries resulting from the distribution. In the recycling company's Oct. 11, 2013, answer to an amended lawsuit, the company denied committing fraud, breaching its contract and violating the Arkansas Deceptive Trade Practices Act, among other accusations.
Kimberly-Clark Corporation Declares Quarterly Dividend, Payable on July 2, 2015
Apr 30 15
The board of directors of Kimberly-Clark Corporation has declared a regular quarterly dividend of $0.88 per share. The dividend is payable on July 2, 2015 to stockholders of record on June 5, 2015.
Kimberly-Clark Corporation Reports Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Full Year of 2015
Apr 21 15
Kimberly-Clark Corporation reported consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported operating profit of $748 million, income from continuing operations of $486 million, net income of $486 million or $1.27 diluted per share, net income attributable to Kimberly-Clark Corporation was $468 million or $1.27 diluted per share on net sales of $4,691 million against operating profit of $711 million, income from continuing operations of $490 million, net income of $546 million or $1.26 diluted per share, net income attributable to Kimberly-Clark Corporation was $538 million or $1.41 diluted per share on net sales of $4,887 million for the same period a year ago. Cash provided by operations was $20 million against $437 million for the same period a year ago. Capital spending was $284 million against $258 million for the same period a year ago.
The company provides earnings guidance for the full year of 2015. The company expects adjusted earnings per share was $5.60-$5.80. Adjusted effective tax rate was 31.5% - 33.5%.