Kimberly-Clark Guides in Line

The company's third-quarter profit beats estimates by a penny.
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(KMB) - Get Report

said net sales in the third quarter rose 5.2% to a quarterly record, and the Kleenex and Huggies maker predicted that its full-year profits would be in line with estimates.

Sales were up in each of the company's four business segments and climbed to $4.2 billion from $4 billion a year ago.

Kimberly-Clark earned 79 cents a share, up from 68 cents a share last year. Excluding charges, adjusted earnings in the third quarter were 99 cents a share, a penny ahead of Wall Street's consensus estimate.

"The positive trends in our ongoing results in both the second and third quarters give us confidence that we can achieve further improvement in the fourth quarter," the company said Monday. "We expect solid top-line growth, driven by continued strength in developing and emerging markets, along with higher net selling prices and product mix improvements."

For the fourth quarter, Kimberly-Clark forecast a profit of $1 to $1.02 a share, and for the year it expects $3.87 to $3.89. Analysts are looking for $1.02 in the quarter and $3.88 for the year.