Kimberly-Clark Profit Beats, Sticks With Full-year Outlook

Consumer goods company Kimberly-Clark Corp. said Friday it had net income of $545 million, or $1.50 a share, in the first quarter, up from $468 million, or $1.27 a share, in the year-earlier period. Adjusted per-share earnings came to $1.53, ahead of the FactSet consensus of $1.51. The maker of Kleenex tissues and Huggies diapers said sales edged down to $4.5 billion from $4.7 billion, but matched the FactSet consensus. Looking ahead, the company said it's sticking with its forecast of organic sales growth of 3% to 5% for the full year, and EPS of $5.95 to $6.15. The FactSet consensus is for EPS of $6.15. The company said it expects the costs of a restructuring announced last year to come in at the high end of its range of $130 million to $160 million after tax, while pre-tax savings are also expected to be at the high end of its $120 million to $140 million range by the end of 2017. Shares edged down 1.3% in premarket trade, but are up 3.5% in the year so far, while the S&P 500 has gained 2.3%.