Kimberly-Clark beats expectations, raises sales guidance

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Kimberly-Clark Corp. KMB, +8.13% stock rose 4.5% in Friday premarket trading after it reported first-quarter earnings that beat expectations and raised its full-year guidance. The 150-year-old consumer products company posted net income of $523 million, or $1.55 per share, down from $584 million, or $1.72 per share, last year. Adjusted EPS of $1.35 beat the FactSet consensus for $1.24. Sales of $5.095 billion were up from $4.743 billion and also ahead of the FactSet consensus for $4.916 billion. Kimberly-Clark acquired a majority and controlling stake in period underwear company Thinx during the quarter. For the year, Kimberly-Clark is guiding for a sales increase of 3% to 4%, up from previous guidance of a 1%-to-2% increase. The company continues to expect adjusted EPS of $5.60 to $6.00. The FactSet consensus is for sales of $19.882 billion, implying 2.3% growth, and EPS of $5.75. Kimberly-Clark brands include Huggies diapers, Kleenex, and Scott paper products. Shares of the company have tumbled 10.4% for the year to date.

This article was originally published by Marketwatch.com. Read the original article here.

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