Kimberly-Clark Says Net Sales Drop Sligthly In 2Q 2016

Kimberly-Clark Corporation said net sales declined 1 percent to $4.6 billion in the second quarter of 2016, compared with the same quarter in the previous year. According to the company, changes in foreign exchange rates cut sales by 4 percent. Organic sales increased 3 percent, with 7 percent volume rise in North American consumer products and 5 percent organic growth in emerging markets. Diluted net income per share was $1.56 in 2016 and a loss of $0.83 in 2015, due to noncash pension settlement charges. Adjusted earnings per share for the quarter were $1.53 in 2016 and $1.41 in 2015.