Personal care product maker Kimberly Clark Corp (KMB) released its fourth quarter earnings report on Friday, posting an adjusted earnings per share than exceed Wall Street expectations.
The Dallas, Texas-based company said its quarterly profit came in at $267 million, or 68 cents per share, down from $401 million, or $1.01 per share, earned a year earlier.
The company said that the lower net income was due to an increase in marketing and research and development expenses, which increased +11.4% over the previous year. KMB is making a push to better compete with its larger competitors.
Adjusted earnings per share was $1.37, up from $1.28 a year earlier. According to Thomson Reuters, this topped the analyst consensus of $1.35 per share.
The company’s sales were up +2.5% over the previous year, coming in at $5.31 billion. Analysts were expecting sales to be $5.19 billion.
The Kleenex tissue maker is expecting 2013 adjusted EPS to be between $5.50 and $5.65, up 5 to 8 percent over 2012. Analysts are expecting 2013 EPS to be $5.58.
Kimberly Clark shares were up $1.41, or +1.63%, during pre-market trading. The stock is up +12.27% over the past year.
The Bottom Line
We have been recommending shares of Kimberly Clark (KMB) since July 23, 2009, when the stock was trading at $54.46. The company has a 3.42% dividend yield, based on last night’s closing stock price of $86.58.
Kimberly Clark Corp (KMB) is recommended at this time, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.