Kimberly-Clark Corp expects full-year earnings to come in at the lower end of its forecast due to some soft demand in North America and Europe, particularly in its U.S. diaper business.

The maker of Kleenex tissues and Huggies diapers, whose shares fell 4.6%, lowered its full-year volume expectations for parts of developed markets and said it was assuming less of a benefit from foreign currency exchange rates due to the stronger U.S. dollar.

Volume at the North American diapers and training pants business fell for the fourth quarter in a row.

Excluding special items, third-quarter earnings of $1.26 per share matched Wall Street’s expectations as the company worked on trimming costs.

Kimberly-Clark’s results kicked off earnings season for U.S. household products makers. Its shares fell 4.6 percent to $69.67.

“Our marketing positions remain solid overall and our innovation and marketing programs are on track,” the company’s chief executive Thomas Falk said in a statement.

He noted that the company is not on track with all of its goals this year but still remains focused on its growth and cost reduction initiatives, particularly in its international businesses.

“Our marketing positions remain solid overall and our innovation and marketing programs are on track,” the company’s chief executive Thomas Falk said in a statement. He noted that the company is not on track with all of its goals this year but still remains focused on its growth and cost reduction initiatives, particularly in its international businesses.