WASHINGTON (dpa-AFX) - (Adds Outlook)
Kimberly-Clark Corp (KMB) reported earnings for its third quarter that increased from last year and beat the Street estimates.
The company's bottom line came in at $587 million, or $1.73 per share. This compares with $467 million, or $1.38 per share, in last year's third quarter.
Excluding items, Kimberly-Clark Corp reported adjusted earnings of $590 million or $1.74 per share for the period.
Analysts on average had expected the company to earn $1.59 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 1.6% to $5.132 billion from $5.053 billion last year.
Outlook:
Looking ahead, Kimberly-Clark has raised its full year 2023 earnings outlook. KMB now expects adjusted income per share growth of 15 percent to 17 percent against its previous guidance of 10 percent to 14 percent.
On average, 17 analysts polled by Thomson Reuters expect the firm to register earnings per share of $6.45 per share, for the year. Analysts' estimates typically exclude special items.
For the year, the company now projects its net sales growth to be in the range of 1 percent to 2 percent against its previous guidance of 0 percent to 2 percent. Analysts, on average, project the company to report revenue of $20.5 billion.
Kimberly-Clark Corp Q3 earnings at a glance (GAAP) :
-Earnings (Q3): $587 Mln. vs. $467 Mln. last year. -EPS (Q3): $1.73 vs. $1.38 last year. -Analyst Estimate: $1.59 -Revenue (Q3): $5.132 Bln vs. $5.053 Bln last year.
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