Kimberly-Clark Corp.: Modeling Cheat Sheet

研报英文原文证据摘录

Kimberly-Clark Corp.: Modeling Cheat Sheet

emicals, superabsorbants, natural gas, polymers), geopolitical & economic

instability (developing markets contribute ~30% of KMB's sales), foreign currency translation (65% of sales are in non-US currency), competitive

pricing environment, restructuring execution and related business or supply chain disruption, marketing/advertising effectiveness, consumer

acceptance of new products. Upside risk includes Brazil and China performing better than expected leading to organic sales growth performing better

than we anticipate.

Disclaimer:

This publication has been produced by Barclays Research Department in the Investment Bank of Barclays Bank PLC and/or one or more of its affiliates

(collectively and each individually, "Barclays").

It has been prepared for institutional investors and not for retail investors. It has been distributed by one or more Barclays affiliated legal entities listed

below or by an independent and non-affiliated third-party entity (as may be communicated to you by such third-party entity in its communications

with you). It is provided for information purposes only, and Barclays makes no express or implied warranties, and expressly disclaims all warranties of

merchantability or fitness for a particular purpose or use with respect to any data included in this publication. To the extent that this publication states

on the front page that it is intended for institutional investors and is not subject to all of the independence and disclosure standards applicable to debt

research reports prepared for retail investors under U.S. FINRA Rule 2242, it is an “institutional debt research report” and distribution to retail investors

is strictly prohibited.