Kimberly-Clark sees 2H18 EPS higher than 1H18
On its Q4 earnings call, Kimberly-Clark said that the one-time cash flow impact from tax reform is not expected to be significant. Expects 2018 cash flow similar to 2017's levels. Sees 2018 share repurchases of $700M-$900M. Says restructuring will generate annual savings of $500M-$550M by end of 2021. Says "pleased" with outcome of U.S. tax reform. Sees 2018 effective tax rate 23%-26%. Says restructuring actions necessary to make company stronger going forward. Expects total capital spending in 2018 and 2019 to be "somewhat higher" than 4.5%-5.5% of net sales long-term target. Spending in 2020 should return to long-term target. Market conditions in 2018 should be "similar" to 2017. Comments taken from the Q4 earnings conference call. Kimberly-Clark is up 0.7% in morning trading to $117.80.