|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||262.00 - 265.70|
|52 Week Range||202.00 - 265.70|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||23.62|
|Forward Dividend & Yield||5.75 (2.19%)|
|1y Target Est||N/A|
Essity beat quarterly core earnings estimates on Thursday, with larger-than-expected costs savings and price rises lifting the Swedish hygiene products maker's shares. Sharply higher input costs for raw materials such as pulp has put pressure on Essity, which makes Libero diapers and is the world's biggest maker of incontinence and professional tissue products with its TENA and Tork brands. Essity, which competes with Procter & Gamble and Kimberly-Clark, embarked on a cost-saving programme last year and still expects to generate annual cost savings of around 900 million Swedish crowns, with full effect at the end of 2019.
Swedish hygiene products group Essity reported quarterly core earnings above market forecasts on Thursday on the back of a bigger-than-expected boost from costs savings and price hikes, more of which were on tap for later this year. "Earnings were positively impacted by higher prices in all business areas, higher volumes and cost savings," Essity said in a statement.
Swedish hygiene products group Essity on Friday announced a new cost-cutting program aimed at 800 million crowns ($90.5 million) in annual savings and said the negative impact from higher raw material costs had accelerated in the third quarter. Essity said it expected the savings to reach full effect at the end of 2019, adding the program would include staff cuts. During the first half of this year, rapidly increasing costs have largely been offset by increased prices, product mix improvements and cost savings, Essity said in a statement.