Kimberly-Clark Cuts 2021 Earnings Outlook; Q3 Profit Misses Estimates

KPN Q3 Profit Climbs; Backs FY21, FY23 Outlook; To Pay Dividend – Quick Facts

Dutch telecom firm Royal KPN NV (KKPNY.PK,KPN) reported Tuesday that its third-quarter net profit climbed 40 percent to 185 million euros from last year’s 132 million eurosd.

Adjusted EBITDA AL was 607 million euros, up 1.4 percent from the prior year.

Adjusted revenues edged up 1 percent to 1.31 billion euros from last year’s 1.30 billion euros.

Further, KPN reiterated its fiscal 2021 outlook for adjusted EBITDA AL of approximately 2.345 billion euros, Capex of 1.20 billion euros, and Free Cash Flow of approximately 765 million euros.

For fiscal 2023, the company continues to expect adjusted EBITDA AL of greater than approximately 2.45 billion euros.

KPN intends to pay a regular dividend per share of 13.6 euro cents over 2021.

Centene Corporation Q3 adjusted earnings Beat Estimates

Centene Corporation (CNC) announced earnings for its third quarter that increased from the same period last year.

The company’s earnings totaled $584 million, or $0.99 per share. This compares with $568 million, or $0.97 per share, in last year’s third quarter.

Excluding items, Centene Corporation reported adjusted earnings of $745 million or $1.26 per share for the period.

Analysts had expected the company to earn $1.25 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 11.4% to $32.41 billion from $29.09 billion last year.

Centene Corporation earnings at a glance:

-Earnings (Q3): $745 Mln. vs. $741 Mln. last year.
-EPS (Q3): $1.26 vs. $1.26 last year.
-Analysts Estimate: $1.25
-Revenue (Q3): $32.41 Bln vs. $29.09 Bln last year.

Full year EPS guidance: $5.05 – $5.15
Full year revenue guidance: $125.2 – $126.4 Bln

Cedar’s Organic Mediterranean Hommus Recalled

Ward Hill, Massachusetts-based Cedar’s Mediterranean Foods is recalling Cedar’s Organic Mediterranean Hommus citing undeclared pine nut, an allergen, the U.S. Food and Drug Administration said.

The Cedar’s Organic Mediterranean Hommus is packaged in a 10 oz. plastic container, with a UPC Code: 044115403028.

The product is a refrigerated product with a Sell by Date of December 12, 2021. It was distributed in various states.

According to the agency, the recalled product may contain an incorrect back label and undeclared allergen. Cedar’s initiated the recall when it was discovered that a mislabeled container failed to scan at the point of sale.

People who have an allergy or severe sensitivity to Tree Nuts may get serious or life threatening allergic reaction if they consume the recalled products.

However, the company has not received any reports of illnesses to date.

In similar recalls, Los Angeles, California- based Chocolate and the Chip in early October called back various bakery products due to the possible presence of undeclared allergens, including wheat, milk, soy, and tree nuts.

In May, Torn Ranch recalled one lot of Torn Ranch Organic Dark Chocolate Blueberries due to undeclared tree nuts.

Essentra Q3 Group Trading In Line With Expectations

Essentra Plc. (FLRAF) , a provider of essential components and solutions on Tuesday said the group trading for the third quarter is in line with expectations. The Company is also expecting to deliver Fiscal 2021 adjusted operating profit in the range of analysts’ forecasts.

Further The U.K-based company operating as three business segments viz Components, Packaging and Filters also announced its intentions to become a pure play components business. And it decided to review strategic options for its Filters business and expects to conclude on the same by the second quarter of 2022.

The company said it anticipates third quarter to record robust performance, clocking a revenue growth of 5.1 percent.

During the third quarter, the Components division witnessed a like-for-like day adjusted revenue growth of 28.5 percent during the period. Packaging division’s revenue on a like-for-like basis however declined 6.1 percent due to delays in the recovery of elective surgeries and prescription levels. The Filters division recorded revenue growth of 2.8 percent driven mainly by higher volumes from outsourcing contracts.

Kimberly-Clark Cuts 2021 Earnings Outlook; Q3 Profit Misses Estimates

While reporting third-quarter results on Monday, Kimberly-Clark Corporation (KMB) lowered its full year 2021 earnings outlook to reflect significantly higher input cost inflation. Also, the company said its third quarter earnings were negatively impacted by significant inflation and supply chain disruptions that increased costs beyond what it anticipated.

For full year 2021, the company now expects adjusted earnings per share in a range of $6.05 to $6.25, lowered from prior outlook of $6.65 to $6.90. Analysts polled by Thomson Reuters expect the company to report profit per share of $6.70. Analysts’ estimates typically exclude special items. Organic sales are now anticipated to decline 1 to 2 percent, updated from prior outlook of between flat to decline of 2 percent.

Third quarter adjusted earnings per share were $1.62 compared to $1.72, previous year. On average, 13 analysts polled by Thomson Reuters expected the company to report profit per share of $1.65, for the quarter. Net profit was $469 million or $1.39 per share compared to $472 million or $1.38 per share.

Sales were $5.01 billion, up 7 percent from prior year. Organic sales growth was 4 percent, for the quarter. Analysts expected revenue of $4.99 billion, for the quarter.

Shares of Kimberly-Clark were down 2% in pre-market trade on Monday.