Kimberly Clark Corp (NYSE:KMB) hikes 2013 profit projection

by Paul Wilson | Friday, Apr 19, 2013 | 488 views

Northern, WI 04/19/2013 (usastockreport) – The Kleenex tissues and Huggies diaper-maker, Kimberly Clark Corp (NYSE:KMB) (Current: $105.42, UP by 3.99%) has upped its annual revenue projections as its sales in North America have been on the upswing. In a statement, the Dallas-based company said that it is now increasing its earlier profit forecast of $5.50-$5.65 per share to $5.60-$5.75 per share. The average analyst estimate had been $5.59 per share. The company’s first-quarter profit with the exclusion of some items rose from the $1.24 that it stood at a year earlier, to a record $1.48 per share while the average analyst projection had been $1.34 per share. In a statement, Thomas J. Falk the Chief Executive Officer said that Kimberley Clark had set off on this year at a clipping pace.

An overall view

He said that the company had accomplished strong organic sales growth in comparison to the strong result that it had a year ago. This included gains from strategically planned product innovations and concerted growth initiatives. The revenue rose to $5.32 billion by 1.5 percent while the analyst estimate had been $5.27 billion. The net income rose from $468 million or $1.18 per share to $531 million by around 13 percent or $1.36 per share. The company said that there was a 3 percent rise in organic sales, with the inclusion of the 6 percent North American consumer tissue increase and the 5 percent rise in K-C International.

This revenue-figure excludes the sales that have been lost due to the strategic changes that have been made in Europe, tissue and pulp restructuring actions and fluctuation in foreign currency rates.  In October, Kimberley-Clarke announced that it will be exiting the diaper business in Central and Western Europe with the exception of Italy.

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