Kimberly-Clark Shares Rise After Q1 Report
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IRVING (AP) - Shares of Kimberly-Clark Corp. rose Tuesday after the maker of Huggies diapers and Kleenex tissue reported strong first-quarter results.
The consumer goods maker's profit and sales were dragged down by the stronger dollar, but both were stronger than Wall Street expected. The company said personal care items like Huggies baby wipes, Depend undergarments and Poise pads sold well in emerging and developing markets.
The company's shares jumped $4.76, or 4.4 percent, to $112.12 in afternoon trading.
Kimberly-Clark said its net income totaled $468 million, or $1.27 per share, down 13 percent from a year ago. Excluding one-time charges it reported a profit of $1.42 per share. Its revenue fell 4 percent to $4.69 billion.
Analysts expected net income of $1.33 per share and $4.63 billion in revenue, according to Zacks Investment Research.
For the full year Kimberly-Clark maintained its forecast for an adjusted profit of $5.60 to $5.80 per share.
FactSet says analysts it surveyed expect earnings of $5.65 per share.
Shares of Kimberly-Clark reached an all-time high on Jan. 22, the day before the company reported its fourth-quarter results. The stock peaked at $119.01 and closed at $118.98. The shares are down 10 percent since then.
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