Personal care product manufacturer, Kimberly Clark Corp (KMB) reported an increase in first quarter earnings on Friday, and has improved its full year outlook.
The Dallas, TX based company reported first quarter earnings of $531 million, or $1.36 per share, up 12% from $468 million, or $1.18 per share last year. Excluding special items, earnings were $578 million, or $1.48 per share, up from $492 million, or $1.24 per share last year. On average, analysts expected to see earnings of $1.34 per share.
Revenue increased by 2% to $5.31 billion, from $5.24 billion last year. Analysts expected to see revenue of $5.28 billion.
Organic sales increased by 3% during the quarter, while sales in the personal care segment rose 1%. The company’s consumer tissue segment saw a 4% increase in sales.
K-C Professional sales dropped -1% during the first quarter, while the health care segment saw a -2% decline.
Looking ahead, the company has raised its FY2013 outlook from an estimated earnings range of $5.50 to $5.65 per share to a range of $5.60 to $5.75 per share. Analysts expect the company to report full year earnings of $5.59 per share.
Kimberly Clark shares were up $3.66, or 3.61% during Friday morning trading. The stock has increased 40% in the past year.
The Bottom Line
Shares of Kimberly Clark Corp (KMB) have a 3.08% yield, based on Friday morning’s price of $105.14.
Kimberly Clark Corp (KMB) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.