Kimberly-Clark Beats Profit Expectations, Sees 2017 Earnings At Low End Of Guidance Range

Kimberly-Clark Corp. reported second-quarter net profit of $531 million, or $1.49 a share, down from $566 million, or $1.56 a share, in the same period a year ago. Excluding non-recurring items, the consumer products company, with brands including Kleenex, Huggies and Kotex, said adjusted earnings per share came to $1.53, beating the FactSet consensus of $1.49. Revenue fell 1% to $4.55 billion from $4.59 billion, in line with the FactSet consensus of $4.56 billion. Personal care revenue declined slightly to $2.3 billion, while consumer tissue revenue declined 2% to $1.5 billion. The company cut its 2017 sales outlook to be "similar, or up slightly" from a year ago, compared with its previous outlook of up 1% to 2%. The company now expects 2017 EPS to be at the low end of its target range of $6.20 to $6.35. The stock, which was still inactive in premarket trade, has gained 8.5% year to date through Monday, while the S&P 500 has climbed 10.3%.