Kimberly-Clark Misses Profit Estimates On Impact Of U.S. Currency
Kimberly-Clark Corp. said it had third-quarter net income of $529 million, or adjusted earnings per share of $1.51, down from $582 million for the same period in 2014, or adjusted earnings per share $1.50. Earnings per share consensus was $1.49, according to analysts polled by FactSet. Sales for the quarter were $4.7 billion, down 7% from one year ago. Net sales consensus was $4.7 billion, according to FactSet. The company said the impact of the U.S. dollar reduced sales by 12%. The personal care segment, which includes Huggies diapers and Depend absorbent undergarments reported sales of $2.4 billion, down 5% from one year ago, though sales in North America increased 5%. And third-quarter sales in the tissue segment, which includes Kleenex and Viva, were down 10% to $1.5 billion. Kimberly-Clark stock is up 4.2% for the past three months, compared to a 4.2% decrease of the S&P.
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