Kimberly-Clark Cleans Up on Earnings Beat, Raised Guidance
Kimberly-Clark
Shares of Kimberly-Clark (KMB) - Get Report were rising in trading Tuesday after the company reported second-quarter earnings and sales beats and raised its full- year guidance.
The Dallas-based Kleenex maker reported second-quarter earnings of $485 million, or $1.67 per share on an adjusted basis, on revenue of $4.59 billion. Analysts polled by FactSet were expecting earnings of $1.61 per share on revenue of $4.58 billion.
For the full year, the company now expects to earn between $6.65 and $6.80 per share, up from its previous view between $6.50 and $6.70 per share. The company is now also modeling for revenue to come in between break even and down 1%, up from its previous guidance of a 1% to 2% decline.
"For the full year, we are raising our top- and bottom-line outlook, reflecting strong execution and an improving commodity environment. We're also increasing our growth investments behind our brands and in capabilities that will position us for longer-term success," CEO Mike Hsu said.
The company reported a 1% increase in its personal care segment, its biggest money maker, to $2.3 billion as sales in North America increased 5% in the quarter. Net selling prices also increased in the period by 3%.
Shares rose 1.3% to $135.99 in trading.