KMB

This article first appeared on GuruFocus. Release Date: October 29, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. - Klabin SA (KLBAY) achieved a 3% year-over-year net revenue increase to R$5.6 billion, driven by higher pulp and kraftliner prices. - The company reported strong performance in fluff pulp, with volumes rising to 115,000 tons and a significant price increase, supported by long-term contracts with major clients like Kimberly-Clark. - Coated board volumes reached 231,000 tons with price increases, and Klabin SA (KLBAY) secured important long-term agreements with Tetra Pak and SIG. - Klabin SA (KLBAY) is gaining market share in kraftliner, particularly in new markets like Mexico and Canada, leveraging its innovative Eukaliner product and the restart of the Monte Alegre recovery boiler. - The company maintains robust liquidity of R$12.1 billion, sufficient to cover 30 months of debt maturities, with an average debt maturity of 82 months and a low average cost of 5.2% per year. - Klabin SA (KLBAY) has a disciplined cost management approach, with fixed costs rising only 2.8% year-to-date, below inflation, and initiatives to reduce variable costs yielding positive results. - El Nino-induced heavy rainfall in Parana has significantly increased operational costs, with about 80% of the annual average rainfall concentrated in three months, impacting wood logistics and working capital. - Geopolitical conflicts are pressuring fuel and input prices, and these challenges are expected to persist, potentially affecting costs into 2027. - Klabin SA (KLBAY) faces cost pressures from increased average distance for wood sourcing, which will continue until the second half of 2028 when own wood harvesting begins. - The company's leverage ratio (net debt to adjusted EBITDA) stands at 3.3 times, and deleveraging is progressing slower than desired, with limited levers to accelerate the process. - Free cash flow over the past 12 months was only R$40 million, impacted by higher CapEx, increased wood inventory, and standing timber purchases for El Nino preparations. - The coated board market is negatively affected by Chinese folding coated board imports, which may continue to pressure global manufacturers, although Klabin SA (KLBAY) is less exposed due to its focus on long fiber coated board. - Warning! GuruFocus has detected 9 Warning Signs with KLBAY. - Is KLBAY fairly valued? Test your thesis with our free DCF calculator. Q: Lucas Vagli (XP Investments) asked about cost pressures, specifically the ~150 reais per ton impact, and whether these will subside in Q4 or persist into 2027, and how to think about the cost guidance.A: CFO Gabriela Vogie explained that the cost pressures are mainly driven by El Nino (intense rainfall) and geopolitical issues affecting logistics. She expects Q4 costs to be very similar to Q3, pressured by these same two events. El Nino should finish by Q1 2027, but geopolitical challenges may persist throughout the next year. Q: Marcio Farid (Goldman Sachs) asked about the two-year delay in reducing outsourced wood (the Kaite project) versus original expectations, and what the marginal gains will be from reducing outsourcing starting in 2028.A: CEO Cristiano Teixeira clarified that the timeline was always part of the 2018 plan: the first cycle uses outsourced timber, and the second cycle (starting H2 2028) will use own wood. He noted that at least 50% of wood cost is logistics, and reducing the average distance by about 25 kilometers starting in H2 2028 will significantly reduce costs, stabilizing in 2029. Q: Julia Rizzo (Morgan Stanley) asked for clarity on the extraordinary costs (111 reais per ton), whether they will phase out, and if the cost per ton includes land sales, given no land sales occurred in Q3.A: CEO Cristiano Teixeira explained that the extra costs from El Nino should mostly phase out by Q2 2027, though some impact will be seen in Q1. CFO Gabriela Vogie added that even with continued pressures, the company expects to be at most at the top range of the guidance, noting they executed about half of the planned 250 million reais in land purchases. Q: Rodolfo Angeli (JP Morgan) asked about leverage (currently at 3.3x) and whether there are additional levers to accelerate deleveraging.A: CEO Cristiano Teixeira highlighted land and timber sales as a key lever, noting Klabin's expertise in negotiating forestry areas in Brazil and potential opportunities in areas slightly further away. CFO Gabriela Vogie added that the machine ramp-up will conclude by year-end, reaching full capacity, and while they wish for faster deleveraging, leverage is stable and operations are solid. Q: Caio Fibedo (Bank of America) asked about the pulp market, specifically the factors behind the last two price increase rounds and whether trends justify further increases.A: An executive (likely CEO Cristiano Teixeira) stated that Q4 market conditions are expected to be stable versus Q3. The $20 increase in Asia for October was fully implemented, demand is at good levels, and a $50 increase was announced for Europe. Inventories are balanced globally, and supply chain disruptions (e.g., Middle East war) have increased transit times by about 10 days, contributing to a more balanced market. Q: Danielle Sasson (Itau BBA) asked about packaging paper, noting better prices across categories but no improvement in EBITDA, and inquired about changes in mix, demand, or competitive environment limiting margin conversion.A: CEO Cristiano Teixeira explained that the global industry is undergoing structural change, with reduced US exports and a detachment of US box usage from GDP. Klabin is repositioning by bringing high-quality kraftliner, exporting over 45,000 tons per month, and replacing US exports in markets like Mexico and Canada. He noted $100 price increases in kraftliner over the last 28 months and expects potential US paper shortages to add value to Klabin's kraftliner. Q: (Follow-up from Danielle Sasson on coated board) The CEO also addressed coated board, noting it has been negatively affected by Chinese eucalyptus folding paper, which is low added-value. However, Klabin focuses on long-fiber coated board, where it is gaining market share and is not threatened by these imports. Q: (Analyst question on El Nino impact) CEO Cristiano Teixeira detailed that El Nino brought 350-400 mm of rainfall per month in Sep-Nov 2026 (80% of annual average in three months), creating operational challenges. However, the company was prepared, no plants risk running out of wood, and costs should normalize by Q2 2027. Q: (Analyst question on Monte Alegre boiler) CEO Cristiano Teixeira announced the restart of the Monte Alegre recovery boiler on October 15, 2026, with about 1 million tons of capacity and machinery for LPB and kraftliner, showing great performance and expected to be more significant in Q4. Q: (Analyst question on fluff pulp) CEO Cristiano Teixeira highlighted strong fluff performance, with volumes increasing from 106,000 tons in Q3 2025 to 115,000 tons in Q3 2026, plus a significant price increase. He mentioned a new global deal with Kimberly-Clark and ongoing R&D discussions with major clients in Europe, Asia, and Latin America. Q: (Analyst question on corrugated boxes) CEO Cristiano Teixeira noted that over 70% of the packaging area is contracted with major brands like JBS, Nestle, Unilever, and Natura. Klabin has consolidated its position and changed dollar-linked pricing for boxes in Brazil due to partnership and service quality. Q: (Analyst question on liquidity and debt) CFO Gabriela Vogie reported robust liquidity of 12.1 billion reais (9.5 billion in cash covering 30 months of maturities), average debt maturity of 82 months, and average dollar cost of 5.2% per year. Free cash flow over the last 12 months was 40 million reais, impacted by higher CapEx and wood inventory for El Nino preparation. Q: (Analyst question on shareholder returns) CFO Gabriela Vogie stated that payouts over the last 12 months totaled 1.152 billion reais (5.2% dividend yield), with the next dividend installment of 278 million reais on November 12. The share repurchase program has executed approximately 23% of the approved volume since June. Q: (Analyst question on kraftliner market) CEO Cristiano Teixeira emphasized that kraftliner is distancing For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Church & Dwight (NYSE:CHD) is scheduled to report its earnings on Friday, October 30, 2026. The company has a market value of about $24.8 billion. Over the last twelve months it generated $6.2 billion in revenue and $1.1 billion in operating profit, with net income of $745 million. Nobody knows how the market will take the numbers. What we can measure is how Church & Dwight stock has reacted to its past earnings releases, which is useful context for anyone trading around the event. See the earnings reaction history of all stocks Church & Dwight's Historical Odds Of A Positive Post-Earnings Return Some observations on one-day (1D) post-earnings returns, measured from the last close before each release: - There are 19 earnings releases in the last five years, with 9 positive and 10 negative one-day (1D) returns. Positive 1D returns were seen 47% of the time. - Over the last three years that share falls to 42%, across 12 releases. - The median of the 9 positive 1D returns is 4.4%, and the median of the 10 negative ones is -1.9%. - The largest one-day reactions were 7.2% and -8.6%. The table below shows the 1D, 5-day (5D) and 21-day (21D) returns after each release, followed by summary statistics. Earnings Date | 1D | 5D | 21D 7/31/2026 | 1.2% | 5.8% | 4.0% 5/1/2026 | -1.1% | -3.3% | -1.5% 1/30/2026 | 4.7% | 9.4% | 13.4% 10/31/2025 | 7.2% | 5.4% | 3.8% 8/1/2025 | 0.3% | -1.2% | -0.3% 5/1/2025 | -7.0% | -7.4% | -0.7% 1/31/2025 | -1.5% | -1.6% | 4.9% 11/1/2024 | 4.8% | 4.0% | 11.6% 8/2/2024 | -1.5% | 2.2% | 2.2% 5/2/2024 | -0.4% | 0.5% | 1.0% 2/2/2024 | -2.4% | -1.8% | -0.5% 11/3/2023 | -5.6% | -2.5% | 3.7% 7/28/2023 | 1.3% | -0.9% | -2.5% 4/27/2023 | 5.8% | 5.9% | 1.9% 2/3/2023 | 3.9% | 2.7% | 5.1% 10/28/2022 | -0.2% | -6.6% | 4.3% 7/29/2022 | -8.6% | -9.6% | -11.1% 4/28/2022 | -3.6% | -7.3% | -13.5% 1/28/2022 | 4.4% | 4.4% | -0.6% Statistic | 1D | 5D | 21D # Positive | 9 | 9 | 11 # Negative | 10 | 10 | 8 Median Positive | 4.4% | 4.4% | 4.0% Median Negative | -1.9% | -2.9% | -1.1% Max Positive | 7.2% | 9.4% | 13.4% Max Negative | -8.6% | -9.6% | -13.5% Correlation Between 1D, 5D And 21D Post-Earnings Returns Another approach is to wait for the initial reaction and ask whether it tends to continue. The table below shows the correlation between the 1D return and the return over the following 5 and 21 trading days, and between the 5D return and the following 21 trading days. A value near 1 means the first move has tended to continue; near -1, to reverse; near 0, no consistent pattern. Over five years all three correlations are below 0.40 in absolute terms, so over that span the early move has not reliably predicted what followed. Over the last three years, though, the 21-day figures of -0.51 and -0.68 show early moves have tended to reverse. History | 1D vs next 5D | 1D vs next 21D | 5D vs next 21D 5 Years | 0.12 | -0.20 | -0.27 3 Years | 0.07 | -0.51 | -0.68 Is There Any Correlation With Peer Earnings? Procter & Gamble (PG) and Kimberly-Clark (KMB) usually report about 3 to 8 days before Church & Dwight, and have already reported this season. The table compares each peer's one-day reaction to its own earnings with Church & Dwight's one-day reaction to the report that followed. The correlations are PG (0.18), KMB (-0.05); the closer to 1, the more the peer's reaction has foreshadowed Church & Dwight's. Figures this close to 0 show no consistent link. CHD Earnings Date | CHD 1D | PG 1D | KMB 1D 7/31/2026 | 1.2% | -1.9% | n/a 5/1/2026 | -1.1% | 2.5% | 0.2% 1/30/2026 | 4.7% | 2.6% | -0.5% 10/31/2025 | 7.2% | 0.9% | 3.0% 8/1/2025 | 0.3% | -0.3% | n/a 5/1/2025 | -7.0% | -3.7% | -1.5% 1/31/2025 | -1.5% | 1.9% | -1.5% 11/1/2024 | 4.8% | 0.00% | -4.5% 8/2/2024 | -1.5% | -4.8% | -5.7% 5/2/2024 | -0.4% | 0.5% | 5.5% 2/2/2024 | -2.4% | 4.1% | -5.5% 11/3/2023 | -5.6% | 2.6% | -1.1% 7/28/2023 | 1.3% | n/a | -3.1% 4/27/2023 | 5.8% | 3.5% | 1.6% 2/3/2023 | 3.9% | -2.1% | -1.9% 10/28/2022 | -0.2% | 0.9% | 3.1% 7/29/2022 | -8.6% | n/a | 0.4% 4/28/2022 | -3.6% | 2.7% | 8.1% 1/28/2022 | 4.4% | 3.4% | -3.4% Correlation | - | 0.18 | -0.05 An earnings release can move one stock sharply in either direction. A diversified portfolio spreads that risk. The Trefis High Quality (HQ) Portfolio holds about 30 quality businesses, rebalanced with rules, and has a track record of outperforming a benchmark that combines the S&P 500, the S&P MidCap 400, and the Russell 2000.

- AI jitters and rising rates are fueling a market rotation into once beaten-down defensive and real-economy stocks - Steel Dynamics, Nucor, Kroger, and Kimberly-Clark face key earnings reports and corporate catalysts in the days ahead - Earnings commentary, AI infrastructure demand, dealmaking developments, and even midterm election outcomes could determine whether the rotation has staying power October has already provided a scare for tech investors. Information Technology was the lone S&P 500 sector in the red month-to-date coming into Friday, the 16th. AI jitters, rising interest rates, concerning CDS spreads, and even regulatory worries cooled the once red-hot megatrend. Will recent price action prove to be yet another buyable pullback? Or is something more sinister at play? Chances are, we'll find out much more over the coming weeks as Q3 reports roll in. For now, momentum traders find themselves strolling down unusual aisles. Indeed, as I.T. lags, defensive and rate-sensitive spaces such as Consumer Staples, Utilities, Health Care, and Materials have caught bids. Simply scan through price charts of blue chips in these real-economy sectors, and you'll come across many apparent bottoming patterns. Now, normally, the bulls don't want to see the safest parts of the global stock market outperforming risk-on areas. Historically, when defensives lead within a choppy tape, the chances increase that a durable bear market may be lurking around the corner. Today, though, it could simply be one big rotation, a move out of high-growth AI stocks and into equities that were beaten down too much by the sharp interest rate climb from late August through the early days of October. After all, they say rotation is the lifeblood of bull markets. We'll see how it all shakes out. No matter the consequences, Q4 will probably continue to provide many compelling storylines. Narratives may take more twists and turns in the following sessions, too. Zooming in on a pair of the aforementioned non-tech sectors, several stocks could see unusual volatility that traders should keep on their radar. And while they don't drip AI, recent company announcements show that data centers, large language models, and agentic programs have long tentacles that reach far beyond Silicon Valley. First up: Steel Dynamics (STLD). The $35 billion market cap Materials sector company reports Q3 results after the bell on Monday, October 19. The Indiana-based cyclical firm has seen its stock surge 65% in the past year, boosted by big nationwide construction spending spurred by what else? Data centers. But it and industry peer Nucor (NUE) hit the skids in mid-September following soft preliminary earnings numbers. STLD executives said they expected third-quarter earnings of $5.34–$5.38 per share, far shy of consensus estimates at the time. Compared to a year ago, however, even the low-end number would represent a near-doubling of operating EPS. Could the bar be low enough for STLD to hurdle with flying colors? It remains to be seen, but the stock has paced itself for the better part of six months. After peaking at $289 in mid-June, STLD has flirted with its 200-day moving average since the middle of the year after a smelter-hot rally that began in August 2025 at $120. A new CEO is at the helm, and trade policy matters greatly for this steel company. Monday's report and earnings call will be of particular interest. As for Nucor, the $58 billion Materials company's shares have enjoyed (and then weathered) similar price developments. Its Q3 report is confirmed for Monday, October 26, BMO. The North Carolina-based name announced a $105 million expansion of its Indiana utility towers facility to add capacity to manufacture poles and other products to support power transmission and distribution infrastructure. A healthier grid is critical to the AI buildout. Comments from management will be particularly practical in light of recent AI news. Next, Kroger (KR) has their cart full in the days ahead. The country's largest stand-alone retail grocer comes through the earnings checkout line in early December. In the here and now, it hosts an Investor Day on Tuesday, October 20. Just recently, on October 12, the Consumer Staples player announced it would eliminate 3,000 corporate jobs (37% of its ~8,200 corporate workforce) as part of a three-year restructuring.1 The headcount cut is an AI-efficiency byproduct. Cost-conscious consumers pressure its net sales, while record-high diesel prices surely drive up the expense side of the ledger as the holiday season approaches. Shares are down 9% over the past 12 months, though KR has rallied since the start of the second half. Investors will seek answers on Tuesday regarding the saga between the company and rival Albertsons Companies (ACI). Reported last week, Albertsons asked a Delaware court to force Kroger to pay as much as $9.3 billion over the dissolved $24.6 billion merger between the two industry stalwarts. That nixed deal has been an overhang for years, potentially making the Investor Day a little spicier. Finally, Kimberly-Clark Corporation (KMB) issued a bullish preliminary earnings statement on Thursday, October 15, ahead of full Q3 results confirmed for Thursday, November 5, BMO. The often-quiet Consumer Staples stock surged nearly 5%, almost its best day since April 2024. Shareholders needed the boost, as KMB was down 18% YoY beforehand. Specifically, KMB now expects to earn an adjusted profit of $1.70 per share, about $0.11 above estimates, with net sales of $4.134 billion (down 0.4% from a year ago but above forecasts). KMB has M&A on its mind as well. The $33 billion market cap company received conditional approval from the European Commission on October 13, for its $40 billion (or $48.7 billion including debt) acquisition of Kenvue (KVUE). Paired with the upbeat earnings pre-announcement, it could be a successful end to the year, assuming the deal is finalized in the coming months. Plenty of story-stocks and recent alpha generators are outside AI glamor companies. Absolute and relative strength have ticked up in real-economy sectors that were beaten up as investor dollars flowed to tech. Macro conditions, such as ebbing Treasury rates and the upcoming U.S. midterm elections, are wildcards. Still, traders and portfolio managers should listen up for commentary in perhaps unusual places this earnings season. 1 Kroger To Reportedly Eliminate 37% Of Corporate Workforce In Operations Overhaul, Stocktwits, Yahoo Finance, Shashank Nayar, https://finance.yahoo.com Copyright © 2026 Wall Street Horizon, Inc. All rights reserved. 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Kimberly-Clark (NASDAQ:KMB) shares gained 1.8% on Thursday morning after the consumer products manufacturer reported preliminary third-quarter 2026 earnings and revenue above analysts' expectations. The company recorded preliminary net sales of $4.13 billion, slightly exceeding the Wall Street consensus estimate of $4.1 billion. Adjusted earnings per share reached $1.70, beating analysts' forecasts of $1.60 by $0.10. Despite the stronger-than-expected quarterly performance, Kimberly-Clark maintained its full-year 2026 financial outlook, including expectations for organic sales growth, operating profit and adjusted earnings. The company is scheduled to publish its final third-quarter results on 5 November 2026. Kimberly-Clark's preliminary third-quarter results showed revenue approximately $30 million above market expectations. Net sales of $4.13 billion exceeded the consensus forecast of $4.1 billion, while adjusted earnings per share were 6.25% higher than analysts had anticipated. The earnings performance contributed to the positive movement in Kimberly-Clark shares following the announcement. However, the company did not provide a detailed breakdown of the factors supporting the quarterly earnings beat in its preliminary update. Investors will receive further information about sales trends, profitability and business performance when the company releases its final financial statements. Kimberly-Clark reaffirmed its expectation that organic sales growth for 2026 will remain approximately 100 basis points, or one percentage point, below the weighted average growth rate of the product categories in which it operates. The company attributed much of the expected shortfall to previously disclosed disruptions associated with social media activity in China. These developments have affected its sales performance in the Chinese market and continue to influence its expectations for the full year. Kimberly-Clark reported that the trailing 12-month weighted average growth rate across its operating categories currently stands at approximately 1.7%. If that category growth rate remained unchanged, the company's guidance would imply organic sales growth of approximately 0.7%. However, the final outcome will depend on category performance over the relevant reporting period. The maintained outlook indicates that management continues to anticipate weaker organic sales growth relative to its underlying markets despite the third-quarter earnings beat. Kimberly-Clark also maintained its full-year profitability guidance. The company expects adjusted operating profit to increase at a mid-single-digit rate in constant currency during 2026. Constant-currency reporting removes the impact of exchange rate movements, providing a clearer comparison of underlying financial performance between reporting periods. Adjusted earnings per share from continuing operations are forecast to rise at a high-single-digit rate on the same basis. However, total adjusted earnings per share attributable to Kimberly-Clark are expected to decline at a low-single-digit rate in constant currency. The different earnings projections reflect the distinction between the company's continuing operations and its overall attributable earnings measure. The preliminary announcement did not provide additional details explaining the difference between the two forecasts. Although Kimberly-Clark exceeded analysts' third-quarter expectations, its unchanged annual guidance indicates that management has not revised its assessment of the broader operating environment. The company continues to expect the previously identified disruption in China to affect organic sales growth relative to category performance. At the same time, Kimberly-Clark anticipates growth in adjusted operating profit and earnings from continuing operations. This combination suggests that the company expects to maintain underlying profitability growth despite pressure on sales performance in certain markets. For investors, the distinction between stronger quarterly earnings and unchanged annual forecasts will remain relevant when assessing the sustainability of the company's performance. Kimberly-Clark plans to release its final third-quarter 2026 financial results, together with supporting materials, on 5 November. The complete report is expected to provide further information on regional sales performance, operating margins and the factors influencing earnings. Investors will also be looking for additional detail on the impact of the disruption in China and whether category growth trends have changed. The preliminary results showed that Kimberly-Clark exceeded market expectations for both revenue and adjusted earnings per share. However, the decision to maintain full-year guidance suggests that the company continues to anticipate challenges in achieving organic sales growth in line with its operating markets.

Final Third Quarter and Nine Months results to be Released November 5, 2026 DALLAS, Oct. 15, 2026 /PRNewswire/ -- Kimberly-Clark Corporation (NASDAQ: KMB) ("Kimberly-Clark"), a core S&P 500 component, today provided estimated preliminary financial data for the three months ended September 30, 2026, on a Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission. Considering these preliminary results, Kimberly-Clark's outlook for 2026 remains consistent with previous expectations; specifically: - 2026 Organic Sales Growth to be approximately 100 basis points below its weighted average category growth in the categories and countries it competes. This primarily reflects realized and potential unfavorable impacts amounting to approximately 100 basis points at a total company level from previously disclosed China social media disruptions. Kimberly-Clark also noted that its weighted average category growth is now approximately 1.7 percent on a trailing 12-month basis. - Adjusted Operating Profit to grow mid-single digits on a constant-currency basis. - Adjusted Earnings per Share from Continuing Operations to grow high single digits on a constant-currency basis. - Adjusted Earnings per Share Attributable to Kimberly-Clark to see a low single digit decline on a constant-currency basis. This outlook reflects assumptions subject to change given the macro environment. In addition, this outlook excludes the impact of any potential acquisitions, including Kimberly-Clark's previously announced pending acquisition of Kenvue Inc. (the "Kenvue Acquisition"), divestitures and other items that have not yet been identified and quantified. Kimberly-Clark will issue its final third quarter 2026 results on Thursday, November 5. A press release and supplemental materials will be issued at approximately 6:30 a.m. EST. Kimberly-Clark management will then host a live Q&A session with analysts beginning at 8:00 a.m. EST. The earnings release, supplemental materials, and Kimberly-Clark's Q&A session can be accessed at the Investor Relations section of the Kimberly-Clark website. A replay of the webcast will be available following the event through the same website. About Kimberly-Clark Kimberly-Clark (NASDAQ: KMB) and its trusted brands are an indispensable part of life for people in more than 175 countries and territories. Our portfolio of brands, including Huggies, Kleenex, Scott, Kotex, Cottonelle, Poise, Depend, Pull-Ups, Goodnites, Intimus, Plenitud, Sweety, Softex, Viva and WypAll, hold No. 1 or No. 2 share positions in approximately 70 countries. Our company's purpose is to deliver Better Care for a Better World. We are committed to using sustainable practices designed to support a healthy planet, build strong communities, and enable our business to thrive for decades to come. The KMB stock is a large cap growth and value stock and core S&P 500 equity held by more than 400 Exchange Traded Funds. Kimberly-Clark is considered a dividend aristocrat, having paid a cash dividend to shareholders for 92 consecutive years and increased its dividend for 54 consecutive years. To keep up with the latest news and learn more about the company's more than 150-year history of innovation, visit the Kimberly-Clark website. Non-GAAP Financial Information This press release includes certain financial measures, such as Organic Sales Growth, Adjusted Operating Profit, Adjusted Earnings per Share from Continuing Operations, and Adjusted Earnings per Share Attributable to Kimberly-Clark, not calculated in accordance with generally accepted accounting principles in the United States ("GAAP"). Unless specifically stated, all discussions regarding non-GAAP financial measures reflect results from our continuing operations for all periods presented. We use these non-GAAP financial measures to assist in comparing our performance on a consistent basis for purposes of business decision making by removing the impact of certain items that we do not believe reflect our underlying and ongoing operations. We believe that presenting these non-GAAP financial measures is useful to investors because it (i) provides investors with meaningful supplemental information regarding financial performance by excluding certain items, (ii) permits investors to view performance using the same tools that management uses to budget, make operating and strategic decisions, and evaluate historical performance, and (iii) otherwise provides supplemental information that may be useful to investors in evaluating our results. We believe that the presentation of these non-GAAP financial measures, when considered together with the corresponding U.S. GAAP financial measures and the reconciliation to those measures, provides investors with additional understanding of the factors and trends affecting our business than could be obtained absent these disclosures. These non-GAAP financial measures are not meant to be considered in isolation or as a substitute for the comparable GAAP measures, and they should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. There are limitations to these non-GAAP financial measures because they are not prepared in accordance with GAAP and may not be comparable to similarly titled measures of other companies due to potential differences in methods of calculation and items being excluded. We compensate for these limitations by using these non-GAAP financial measures as a supplement to the GAAP measures and by providing reconciliations of the non-GAAP and comparable GAAP financial measures. The non-GAAP financial measures referenced in this press release are presented on a forward-looking basis. Kimberly-Clark does not provide a reconciliation of these forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measures on a forward-looking basis because it is unable to predict certain adjustment items without unreasonable effort. Please note that these items could be material to Kimberly-Clark's results calculated in accordance with GAAP. Cautionary Statement Regarding Forward-Looking Information Certain matters contained in this press release, including expectations regarding our 2026 outlook and related guidance, including raw material, energy and other input costs, the anticipated charges and savings from the 2024 Transformation Initiative, cash flow and uses of cash, growth initiatives, innovations, marketing and other spending, net sales, anticipated currency rates and exchange risks, including the impact in Argentina and Türkiye, effective tax rate, contingencies and anticipated transactions of Kimberly-Clark, including dividends, share repurchases and pension contributions, constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act and are qualified by the inherent risks and uncertainties surrounding future expectations generally. There can be no assurance that these future events will occur as anticipated or that our results will be as estimated. Actual results could differ materially from those currently anticipated due to a number of risks and uncertainties, many of which are beyond our control. Forward-looking statements are based upon the expectations and beliefs of the management of Kimberly-Clark as of the date they were made and speak only as of the date they were made. We undertake no obligation to publicly update any forward-looking statements. Some of these forward-looking statements can be identified by words like "anticipate," "approximately," "believe," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "outlook," "plan," "possible," "potential," "predict," "project," "seek," "should," "target," "will" or "would," the negative of these words, other terms of similar meaning or the use of future dates. The assumptions used as a basis for the forward-looking statements include many estimates that, among other things, depend on the achievement of future cost savings and projected volume increases. In addition, many factors outside our control, including risks and uncertainties around the Kenvue Acquisition (including the risk that the anticipated benefits and synergies of the Kenvue Acquisition may not be realized when expected or at all, the terms and scope of the expected financing in connection with the Kenvue Acquisition may prove to be less favorable than currently expected, that the Kenvue Acquisition may not be completed in a timely manner or at all and the risk of litigation related to the Kenvue Acquisition), the International Family Care and Professional joint venture transaction with Suzano S.A. (including risks relating to the incurrence of significant transaction costs, adverse market reactions, regulatory or legal challenges and operational disruptions), risks that we are not able to realize the anticipated benefits of the 2024 Transformation Initiative (including risks related to disruptions to our business or operations or related to any delays in implementation), war in Ukraine (including the related responses of consumers, customers, and suppliers and sanctions issued by the U.S., the European Union, Russia or other countries), government trade or similar regulatory actions (including current and potential trade and tariff actions affecting the countries where we operate and the resulting negative impacts on our supply chain, commodity costs, and consumer spending), pandemics, epidemics, fluctuations in foreign currency exchange rates, the prices and availability of our raw materials, supply chain disruptions, disruptions in the capital and credit markets, counterparty defaults (including customers, suppliers and financial institutions with which we do business), failure to realize the expected benefits or synergies from our acquisition and disposition activity, impairment of goodwill and intangible assets and our projections of operating results and other factors that may affect our impairment testing, changes in customer preferences, severe weather conditions, regional instabilities and hostilities (including the war in Iran), potential competitive pressures on selling prices for our products, energy costs, general economic and political conditions globally and in the markets in which we do business, as well as our ability to maintain key customer relationships, could affect the realization of these estimates. Additional information and factors concerning these risks, uncertainties and assumptions can be found in Kimberly-Clark's filings with the SEC, including the risk factors discussed in Kimberly-Clark's most recent Annual Report on Form 10-K, as updated by its Quarterly Reports on Form 10-Q and future filings with the SEC. Forward-looking statements included herein are made only as of the date hereof and Kimberly-Clark undertakes no obligation to update any forward-looking statements, or any other information in this press release, as a result of new information, future developments or otherwise, or to correct any inaccuracies or omissions in them which become apparent. All forward-looking statements in this press release are qualified in their entirety by this cautionary statement. [KMB-F] [KMB-C] View original content to download multimedia:https://www.prnewswire.com/news-releases/kimberly-clark-announces-preliminary-third-quarter-2026-results-and-provides-full-year-2026-outlook-consistent-with-previous-expectations-302909256.html

Dallas, Texas-based Kimberly-Clark Corporation (KMB) manufactures and markets personal care products in the United States. The company has a market cap of $32.5 billion and operates in two segments, North America and International Personal Care, offering disposable diapers, training and youth pants, swim pants, baby wipes, feminine and incontinence care products, and more. KMB is expected to release its Q3 2026 earnings soon. Ahead of this event, analysts anticipate the company will generate earnings of $1.66 per share, representing a fall of 8.8% from $1.82 per share reported in the same quarter last year. The company has surpassed the Street's bottom-line estimates in three of the past four quarters, while missing on one occasion. - 'When You Say I Should Pay $100 Billion, Then I'm Starting To Do A Little Math': Bill Gates Said He'd Happily Pay 'Over $10 Billion In Taxes' But Some Are Asking Too Much - How to Play Rivian Stock as RIVN Keeps Falling Despite Record Deliveries - Dan Ives Calls SpaceX's $40B Nvidia Chip Debt Plan a 'Smart Move' - Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! For fiscal 2026, analysts expect the company to report an EPS of $7.35, indicating a 2.4% fall from $7.53 reported in fiscal 2025. However, its EPS is expected to rise marginally year over year (YoY) to $7.41 in fiscal 2027. KMB stock has fallen 19.3% over the past 52 weeks, underperforming the S&P 500 Index's ($SPX) 16% rise but outpacing the State Street Consumer Staples Select Sector SPDR ETF's (XLP) 6.9% rise during the same time frame. On Aug. 4, KMB stock declined 2.8% following the release of its mixed Q2 2026 earnings. The company's revenue for the quarter remained flat year-over-year and came in at $4.2 billion, missing the Street's estimates. Moreover, its adjusted EPS amounted to $2.12, beating the consensus estimates. The company's operating margin and free cash flow margin also remained the same compared to the year-ago quarter. KMB's organic revenue missed Wall Street's estimates as well, while remaining flat YoY. The consensus opinion on the stock is moderately bullish, with a "Moderate Buy" rating overall. Of the 16 analysts covering the stock, five recommend a "Strong Buy," one suggests a "Moderate Buy," nine suggest a "Hold," and one recommends a "Strong Sell." KMB's average analyst price target is $114.35 and offers a 17.7% upside. On the date of publication, Aritra Gangopadhyay did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com

Kimberly-Clark stock has declined 11.1% over the past year, yet both its earnings multiples and a Discounted Cash Flow (DCF) intrinsic value estimate currently point to a cheaper valuation than the market price suggests. With the share price near US$110, the key issue for investors is whether this apparent discount fairly reflects the company’s cash generation and risk profile. The 11.1% share price decline over 1 year signals that investors have been cautious on Kimberly-Clark despite a positive return so far this year. Expectations for durable free cash flow and potential benefits from the planned Kenvue acquisition may support the valuation. At the same time, execution risks around integration and ongoing cost pressures can weigh on how much of that value is realized. A value score of 4 out of 6 gives a mixed picture rather than a clear bargain or clear overvaluation, even though both the intrinsic value estimate and market multiples currently suggest Kimberly-Clark is undervalued. The issue now is whether Kimberly-Clark’s share price already reflects these cash flow prospects and risks or if there is still a meaningful discount to intrinsic value. Spot 51 high quality undervalued stocks that, like Kimberly-Clark, show a gap between intrinsic value estimates and current market prices. The Discounted Cash Flow (DCF) model estimates what Kimberly-Clark is worth based on the cash it is expected to generate for shareholders. On this model, the company’s latest twelve month free cash flow is about $2.4b, and the projections assume relatively steady cash generation rather than aggressive growth or sharp decline. That stream of cash flows, discounted back using a 2 Stage Free Cash Flow to Equity approach, points to an intrinsic value around $157 per share. Compared with the recent share price near $110, the DCF output implies Kimberly-Clark screens roughly 29.9% undervalued on a pure cash flow basis. The recent focus on using technology to improve supply chain efficiency helps explain why some investors see room for the cash flows that underpin this valuation to remain resilient, even if short term sentiment has been cautious. Overall, the current DCF work suggests Kimberly-Clark stock appears undervalued relative to the cash it is projected to generate. Our Discounted Cash Flow (DCF) analysis suggests Kimberly-Clark is undervalued by 29.9%. Track this in your watchlist or portfolio, or discover 51 more high quality undervalued stocks. Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for Kimberly-Clark. The P/E ratio fits Kimberly-Clark well because earnings remain a key focus for a mature consumer staples business. Kimberly-Clark currently trades on a P/E of about 21.8x, which is below the peer average of 26.3x in the Household Products space but above the broader industry average of 17.0x. That mix suggests the stock is not priced as cheaply as the wider sector, yet it does not carry the same valuation as closest peers. The fair P/E ratio implied by the model is 24.3x. Compared with the current 21.8x, this points to a discount that the market is applying relative to what might be expected given Kimberly-Clark’s size, margins and risk profile. The gap is not extreme, but it does indicate that the stock trades below the level suggested by those fundamentals. On this earnings multiple, Kimberly-Clark stock appears undervalued relative to its modelled fair P/E level. See what the numbers say about this price — find out in our valuation breakdown. Kimberly-Clark’s valuation puzzle raises a simple question for you as an investor: Which version of the company’s future would justify today’s share price? Simply Wall St Narratives on the Community page aim to make those assumptions explicit by linking Kimberly-Clark’s possible paths for growth, margins and earnings to specific scenarios where the stock could be worth materially more or less than it is now. Each scenario ties a fair value to its own mix of potential catalysts and risks, so you can observe over time which storyline appears closer to reality. The community is split on Kimberly-Clark, with one side focused on long term margin potential and the other on Kenvue execution risk and category headwinds. Bull case: 6% undervalued Read the full Bull Case to see why Kimberly-Clark could be undervalued Bear case: 23% overvalued Read the full Bear Case to see why Kimberly-Clark could be overvalued Do you think there's more to the story for Kimberly-Clark? Head over to our Community to see what others are saying! For Kimberly-Clark, both the Discounted Cash Flow (DCF) intrinsic value estimate and the earnings multiple view currently point to an undervalued stock rather than a stretched one. The overall value checks are mixed, so the current discount is not a clear-cut signal on its own. The important consideration from here is whether Kimberly-Clark can sustain the cash generation and margins that underpin those models while managing Kenvue integration and cost pressures. The key question for investors is whether the present discount compensates sufficiently for those risks or whether it simply reflects them accurately. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include KMB. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]