(Bloomberg) -- Kimberly-Clark Corp. tumbled the most in six months after the maker of toilet paper and other household items cut its annual forecast again amid supply-chain disruptions and inflationary pressures.
Adjusted earnings will be $6.05 to $6.25 a share this year, the company said Monday in a statement as it reported third-quarter results, down from a prior projection of as much as $6.90. It was the third consecutive quarter that Kimberly-Clark reduced its guidance.
See also: Kimberly-Clark misses third-quarter earnings estimates
The company has been “negatively impacted by significant inflation and supply-chain disruptions that increased our costs beyond what we anticipated,” Chief Executive Officer Mike Hsu said in the statement. Kimberly-Clark is raising prices to help counter the effects of a global supply-chain crisis that is “not likely to be resolved quickly.”
The shares fell 5.2% at 9:34 a.m. in New York, the biggest intraday slide since April 23.
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