Kimberly-Clark Corporation (NYSE:KMB) Q3 2017 Earnings Conference Call - Final Transcript
Oct 23, 2017 • 10:00 am ET
quarter, we purchased the remaining 50% of our joint venture in India. Although the categories in India are small today, we're optimistic about the long-term growth potential in this country.
And then finally, I'll briefly build on Maria's financial review to say that I'm encouraged with our teams' accomplishments on our FORCE cost savings program, the way we've managed our overhead spending in this year, especially in the third quarter, and then our working capital and capital allocation.
Now, I'll turn and cover our outlook for the balance of 2017. As we mentioned in this morning's news release, we're confirming our previous full-year 2017 targets. We continue to expect that sales will be similar or up slightly year-on-year. Given results through nine months, it's more likely that organic sales will be similar for the full year.
On the bottom line, we continue to expect that earnings per share will be at the low end of the $6.20 to $6.35 range. As Maria noted, our commodity inflation estimate has increased somewhat from three months ago. On the other hand, we've reduced our discretionary spending plans for the year. In addition, our outlook for currency rates and the effective tax rate has improved slightly.
So in summary, we're focused on competing effectively in the near-term, we're executing our Global Business Plan strategies for long-term success and we're optimistic about our opportunities to deliver attractive returns to shareholders.
That wraps up our prepared remarks, and now we'll begin to take your questions.