Kimberly-Clark posts preliminary results above estimates, China clears formamide claims
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Kimberly-Clark reported preliminary third-quarter sales and profit above expectations on October 15.
- ✓The company got a boost from steady demand and cost-saving measures.
- ✓Chinese authorities also said no formamide was detected in their products.
Story at a Glance
- Category
- BUSINESS
- Reported By
- Reuters
- Reading Speed
- 1 Minute(s)
- Market Focus
- India Economy
Oct 15 (Reuters) - Kimberly-Clark (KMB.O), opens new tab on Thursday reported preliminary third-quarter sales and profit above expectations on the back of steady demand and cost-saving measures.
The results come hours after Chinese authorities said no formamide was detected in the company's products, disproving Chinese social media claims that Huggies diapers contained the toxic substance, which had hurt sales.
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Reporting by Koyena Das and Neil J Kanatt in Bengaluru; Editing by Shreya Biswas
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