RTTNews | Jul 23, 2020 07:47AM EDT

07:47 Thursday, July 23, 2020 (RTTNews.com) - Kimberly-Clark Corp. (KMB) said the company 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. Adjusted earnings per share in 2020 are expected to be $7.40 to $7.60. Net sales are projected to increase 1 to 2 percent year-on-year, including organic sales growth of 4 to 5 percent. The company's outlook in January was for adjusted earnings per share of $7.10 to $7.35, and organic sales growth of 2 percent.

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

Second quarter 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 percent, for the quarter. Analysts expected revenue of $4.5 billion for the quarter.

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