Kimberly-Clark 2Q Profit Drops 3.2 Percent
Kimberly-Clark Corp. on Tuesday reported earnings that decreased by 3.2 percent in its second quarter. The results matched analysts’ expectations.
The Irving, Texas-based company said profit fell to $509 million, or $1.35 per share, from $526 million, or $1.36 per share, in the same quarter a year ago.
Earnings, adjusted for non-recurring costs, were $1.49 per share. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.49 per share.
The company said revenue climbed 1.4 percent, to $5.34 billion from $5.27 billion, in the same quarter a year ago, and beat Wall Street forecasts. Analysts expected $5.31 billion, according to Zacks.
By the start of trading Tuesday, Kimberly-Clark shares had risen $7.85, or 7.5 percent, since the beginning of the year, to $112.31, while the Standard & Poor’s 500 index had risen 6.8 percent. The stock had increased $14.63, or 15 percent, in the last 12 months.
In Tuesday trading, the stock dropped $3.47, or 3.1 percent, to $108.84.
This article appeared in print in edition of Hamodia.
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