Analyst Consensus ?
ConsensusHold31 ratings
Bullish1032.2%
Neutral1858.1%
Bearish39.7%
Kimberly-Clark Corporation · KMB · FY2026 Q2 · Calendar Q3 2026
KMB: Durable volume growth, but outlook lowered amid disruption
KMB's recurring volume-plus-mix growth and productivity gains support the durability of demand, but the lower outlook shows that China disruption, input-cost inflation, promotions and execution around Kenvue remain material constraints. The evidence is mixed rather than a clean confirmation of a stronger growth trajectory.
Reported Before market openNASDAQConsumer Defensive
$32.44B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.80
Consensus $2.01
EPS surprise
-10.4%
Reported versus consensus
Reported revenue
$4.19B
Consensus $4.22B
Revenue surprise
-0.8%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+3.7%
Event window
SPY move
+1.8%
Same window
Abnormal move
+1.9%
Stock minus SPY
Volume
2.3×
Versus trailing sessions
Subsequent drift
-4.0%
Up to 20 sessions
KMBSPY benchmark
Ask FN2 about KMB FY2026 Q2
Transcript, numbers and history already loaded
Why did KMB rise 3.7% after missing EPS estimates in FY2026 Q2?What changed in KMB's guidance and outlook in FY2026 Q2?Give me the bull and bear case for KMB after FY2026 Q2 earnings.
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Transcript intelligence
What changed
Compared with the prior quarter, management's tone remained confident but guidance sentiment shifted from maintained to lowered. The current analysis adds the China diaper disruption, a $45 million tariff refund, an estimated $150 million second-half input-cost headwind, the alternative natural-fiber program and the Arbex joint venture as central developments.
Guidance delta
Management lowered full-year outlook; the transcript analysis does not provide the revised numerical guidance.
Key takeaways
- KMB delivered a tenth consecutive quarter of volume-plus-mix growth.
- China diaper disruption created an approximately 100-basis-point sales headwind, with normalization expected in the second half.
- Productivity gains of 6.4% and a one-off $45 million tariff refund supported operating profit.
- Management highlighted an alternative natural-fiber platform, the Arbex joint venture and Kenvue integration.
- The company cited estimated $150 million of second-half input-cost pressure and North American promotional risk.
Management priorities
- Scale the alternative natural-fiber platform.
- Integrate Kenvue and execute identified cost synergies.
- Continue innovation launches across personal care and tissue.
- Advance the $2 billion supply-chain restructuring.
- Expand Arbex joint-venture operations globally.
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Miss
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Analyst 52W Price Targets
$98.91Current
$99Low
$133.5Average
$174High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 22, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Piper Sandler | Overweight | Overweight | Maintain | Sep 11, 2026 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Sep 10, 2026 |
| UBS | Neutral | Neutral | Maintain | Aug 5, 2026 |
| TD Cowen | Hold | Hold | Maintain | Aug 5, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Jul 21, 2026 |
| B of A Securities | Buy | Buy | Maintain | Apr 10, 2026 |
| Deutsche Bank | Hold | Hold | Maintain | Mar 30, 2026 |
| Citigroup | Sell | Sell | Maintain | Jan 14, 2026 |
| BNP Paribas Exane | Neutral | Neutral | Maintain | Dec 1, 2025 |
| Argus Research | Buy | Hold | Upgrade | Nov 13, 2025 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Nov 4, 2025 |
| Evercore ISI Group | In Line | Outperform | Downgrade | Nov 4, 2025 |
| JP Morgan | Neutral | Neutral | Maintain | Oct 31, 2025 |
| RBC Capital | Outperform | Outperform | Maintain | Apr 23, 2025 |
| HSBC | Hold | Hold | Maintain | Apr 24, 2024 |
| Goldman Sachs | Buy | Buy | Maintain | Apr 24, 2024 |
| Bernstein | Market Perform | Underperform | Upgrade | Oct 12, 2023 |
| Berenberg | Hold | Hold | Maintain | Apr 26, 2023 |
| Jefferies | Hold | Buy | Downgrade | Jan 4, 2023 |
| Bank of America | Buy | Neutral | Upgrade | Sep 27, 2019 |
| Atlantic Equities | Neutral | Underweight | Upgrade | Jul 24, 2019 |
| Macquarie | Outperform | Neutral | Upgrade | Apr 23, 2019 |
| Societe Generale | Hold | Buy | Downgrade | Aug 15, 2018 |
| B. Riley FBR | Neutral | Neutral | Maintain | May 5, 2018 |
| Argus | Buy | Hold | Upgrade | May 5, 2018 |
| CLSA | Underperform | Outperform | Downgrade | Oct 26, 2016 |
| B. Riley Securities | Neutral | Neutral | Maintain | Jan 26, 2016 |
| B. Riley | Neutral | Neutral | Maintain | Jan 26, 2016 |
| BMO Capital | Outperform | Market Perform | Upgrade | Dec 23, 2014 |
| Credit Suisse | Underperform | Underperform | Maintain | Apr 22, 2013 |
| Bank oferica | Buy | Buy | Maintain | Apr 23, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $98.91. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Piper Sandler | Analyst unavailable | $118 | $98.48 | +19.3% | Sep 11, 2026 |
| UBS | Peter Grom | $116 | $110.11 | +17.3% | Aug 5, 2026 |
| Barclays | Analyst unavailable | $115 | $108.48 | +16.3% | Jul 21, 2026 |
| UBS | Analyst unavailable | $115 | $108.13 | +16.3% | Jul 16, 2026 |
| Piper Sandler | Analyst unavailable | $121 | $104.28 | +22.3% | Jun 17, 2026 |
| UBS | Analyst unavailable | $106 | $97.4 | +7.2% | Apr 29, 2026 |
| Barclays | Lauren Lieberman | $99 | $97.1 | +0.1% | Apr 14, 2026 |
| Wells Fargo | Analyst unavailable | $100 | $97 | +1.1% | Apr 8, 2026 |
| Wells Fargo | Analyst unavailable | $110 | $109.41 | +11.2% | Feb 17, 2026 |
| UBS | Peter Grom | $110 | $100.51 | +11.2% | Jan 28, 2026 |
| Barclays | Analyst unavailable | $102 | $99.64 | +3.1% | Jan 16, 2026 |
| UBS | Analyst unavailable | $107 | $98.86 | +8.2% | Jan 14, 2026 |
| Wells Fargo | Analyst unavailable | $105 | $98.52 | +6.2% | Jan 5, 2026 |
| BNP Paribas | Analyst unavailable | $110 | $109.84 | +11.2% | Dec 1, 2025 |
| Morgan Stanley | Analyst unavailable | $125 | $99.79 | +26.4% | Nov 4, 2025 |
| Evercore ISI | Analyst unavailable | $120 | $102.27 | +21.3% | Nov 4, 2025 |
| Barclays | Analyst unavailable | $132 | $119.71 | +33.5% | Nov 3, 2025 |
| RBC Capital | Nik Modi | $162 | $121.45 | +63.8% | Oct 28, 2025 |
| UBS | Peter Grom | $130 | $120.8 | +31.4% | Oct 8, 2025 |
| Piper Sandler | Michael Lavery | $145 | $123.23 | +46.6% | Oct 2, 2025 |
| Barclays | Analyst unavailable | $131 | $124.34 | +32.4% | Oct 1, 2025 |
| Piper Sandler | Korinne Wolfmeyer | $156 | $133.4 | +57.7% | Apr 23, 2025 |
| Wells Fargo | Analyst unavailable | $140 | $140.71 | +41.5% | Mar 28, 2025 |
| Barclays | Analyst unavailable | $144 | $140.56 | +45.6% | Mar 27, 2025 |
| CFRA | Ana Garcia | $151 | $137.75 | +52.7% | Oct 22, 2024 |
| Deutsche Bank | Steve Powers | $142 | $137.34 | +43.6% | Jul 24, 2024 |
| Piper Sandler | Korrine Wolfmeyer | $174 | $140.79 | +75.9% | Jul 11, 2024 |
| RBC Capital | Nik Modi | $165 | $133.3 | +66.8% | Jun 3, 2024 |
| Barclays | Lauren Lieberman | $136 | $137.78 | +37.5% | Apr 25, 2024 |
| Deutsche Bank | Steve Powers | $132 | $127.27 | +33.5% | Mar 28, 2024 |
| HSBC | Alejandro Zamacona | $146 | $127.27 | +47.6% | Mar 28, 2024 |
| Evercore ISI | Javier Escalante | $150 | $127.27 | +51.7% | Mar 28, 2024 |
| Piper Sandler | Korinne Wolmeyer | $152 | $127.27 | +53.7% | Mar 27, 2024 |
| Morgan Stanley | Dara Mohsenian | $153 | $128.98 | +54.7% | Aug 7, 2023 |
| Jefferies | Stephanie Wissink | $150 | $135.66 | +51.7% | Apr 6, 2023 |
| J.P. Morgan | Analyst unavailable | $124 | $136.74 | +25.4% | Jan 13, 2023 |
| Jefferies | Analyst unavailable | $139 | $137.11 | +40.5% | Jan 4, 2023 |
| Deutsche Bank | Analyst unavailable | $123 | $135.48 | +24.4% | Dec 6, 2022 |
| Wells Fargo | Analyst unavailable | $120 | $112.54 | +21.3% | Oct 3, 2022 |
| UBS | Analyst unavailable | $142 | $132.12 | +43.6% | Jul 27, 2022 |
| Deutsche Bank | Analyst unavailable | $134 | $132.14 | +35.5% | Jul 27, 2022 |
| Barclays | Analyst unavailable | $124 | $128.34 | +25.4% | May 23, 2022 |
| Barclays | Lauren Lieberman | $129 | $142.05 | +30.4% | Apr 28, 2022 |
| RBC Capital | Nik Modi | $124 | $143.92 | +25.4% | Apr 25, 2022 |
| Morgan Stanley | Analyst unavailable | $137 | $141.64 | +38.5% | Apr 25, 2022 |
| Wells Fargo | Analyst unavailable | $135 | $138.51 | +36.5% | Apr 25, 2022 |
| J.P. Morgan | Andrea Faria Teixeira | $120 | $139.66 | +21.3% | Apr 25, 2022 |
| Goldman Sachs | Jason English | $124 | $125.03 | +25.4% | Apr 3, 2022 |
| UBS | Peter Grom | $138 | $136.25 | +39.5% | Jan 27, 2022 |
| BNP Paribas | Jeff Stent | $148 | $141.86 | +49.6% | Jan 11, 2022 |
| Deutsche Bank | Stephen Powers | $130 | $130.98 | +31.4% | Oct 26, 2021 |
| HSBC | Robert Price | $131 | $135.43 | +32.4% | Sep 9, 2021 |
Track every rating change on KMB the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationKimberly-Clark Corporation, together with its subsidiaries, manufactures and markets personal care products in the United States. It operates in two segments, North America and International Personal Care. The North America segment offers disposable diapers, training and youth pants, swimpants, baby wipes, feminine and incontinence care products, reusable underwear, facial and bathroom tissue, paper towels, napkins, wipers, tissue, towels, soaps and sanitizers, and other related products under the Huggies, Pull-Ups, Goodnites, Kotex, Poise, Depend, Kleenex, Scott, Cottonelle, Viva, Wypall , and other brand names.…
Historical context
All KMB earningsConsumer Defensive peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| KR The Kroger Co. | FY2026 Q2 · Calendar Q3 2026 | +2.8% | +2.7% | Kroger: Strong digital growth offsets softer sales outlook |
| CPB Campbell Soup Company | FY2026 Q4 · Calendar Q3 2026 | +1.1% | -7.0% | Campbell’s leans on savings and innovation amid pressured demand |
| BF-A Brown-Forman Corporation | FY2027 Q1 · Calendar Q3 2026 | +3.0% | — | Brown-Forman holds FY27 outlook as RTD innovation offsets barrel pressure |
| BF-B Brown-Forman Corporation | FY2027 Q1 · Calendar Q3 2026 | 0.0% | — | Brown-Forman maintains FY27 outlook as innovation offsets pressure |
| DG Dollar General Corporation | FY2027 Q2 · Calendar Q3 2026 | +23.4% | +2.5% | Dollar General Raises FY2026 Outlook After Strong Q2 |
| DLTR Dollar Tree, Inc. | FY2027 Q2 · Calendar Q3 2026 | +134.8% | -3.9% | Dollar Tree: Strong Q2 execution, but guidance held steady |
Latest beats and misses
Who reports nextBeat on EPS
- FPSFY2026 Q4 · September 15, 2026+4.3% EPS+9.5% move
- TCOMFY2026 Q2 · September 15, 2026+22.3% EPS+3.0% move
- KRFY2026 Q2 · September 11, 2026+2.8% EPS+2.7% move
- ADBEFY2026 Q3 · September 10, 2026+0.8% EPS+1.4% move
- ORCLFY2027 Q1 · September 10, 2026+10.3% EPS-1.7% move
- CASYFY2027 Q1 · September 8, 2026+8.7% EPS-14.2% move
Get the KMB recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-08-05T17:11:29.794780+00:00
- FN2 earnings calendar · 2026-09-09T01:23:14.388487+00:00
- Polygon adjusted daily market bars · 2026-09-22T19:30:50.547908+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-22T19:30:50.545404+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-09-22. For educational purposes only; not investment advice.