RTTNews | Jul 23, 2020 10:16AM EDT

10:16 Thursday, July 23, 2020 (RTTNews.com) - Shares of Kimberly-Clark Corp. (KMB) reached a new 52-week high of $149.30, and are currently trading at $147.76, up $3.46 or 2.40% Thursday morning.

The company reported upbeat Q2 results, and said it is restoring its 2020 financial guidance and restarting its share repurchase program after temporarily suspending both in April due to the uncertainty related to the pandemic.

Q2 Results

Second quarter adjusted earnings per share were $2.20, up 32% compared to $1.67, prior year. On average, 11 analysts polled by Thomson Reuters expected the company to report eanings per share of $1.80, for the quarter. Analysts' estimates typically exclude certain special items.

Q2 net sales were $4.6 billion, up slightly compared to the year-ago period, including organic sales growth of 4 percent. Volumes were up 2%, for the quarter. Analysts expected revenue of $4.5 billion for the quarter.

Guidance

Adjusted earnings per share in 2020 are expected to be $7.40 - $7.60. Net sales are projected to increase 1% - 2% year-on-year, including organic sales growth of 4% - 5%. The company's outlook in January was for adjusted earnings per share of $7.10 - $7.35, and organic sales growth of 2%.

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