Kimberly-Clark Corporation ( NYSE: KMB ) posted a mixed earnings result and tempered guidance into year-end on Tuesday.
The consumer staples producer posted $1.40 in earnings per share and $5.05B in revenue for the third quarter. Analysts had anticipated $1.45 and $5.01B, respectively. Net sales growth was promoted by a 9% jump in net selling prices. The increase helped to offset a $360M rise in input costs and unfavorable foreign currency fluctuations.
"Our third quarter results reflect strong execution by our teams around the world in the face of a challenging macro environment," CEO Mike Hsu said. “We continue to execute our plan to restore margins over time and are seeing progress with sequential margin improvement this quarter.”
Moving forward, the Dallas-based company said it anticipates net sales to increase 2% to 4% and adjusted earnings per share for the full year to fall within the lower end of a reiterated range of $5.60 to $6.00. Management said it will cut capital spending to a range of $900M to $1B, down $100M from prior guidance.
Read more on why Atlantic Equities voiced bullishness on the name ahead of earnings .
For further details see:
Kimberly-Clark Corporation looks to trim spending after mixed earnings