Health and hygiene products maker Kimberly-Clark Corporation (
) on Monday said its first quarter profit fell 9% from last year,
missing analyst estimates and sending its shares lower in premarket
The Dallas-based company reported first quarter net income of
$350 million, or 86 cents per share, compared with $384 million, or
92 cents per share, in the year-ago period. Excluding one-time
items, adjusted profit was $1.09 per share.
Sales rose 4% from last year to $5.03 billion.
On average, Wall Street analysts expected a higher profit of
$1.17 per share, on matching revenue of $5.03 billion.
The company said it higher costs would continue to hamper its
profits this year. It now expects adjusted full-year earnings to
range from $4.80 to $5.05 per share, compared with a prior range of
$4.90 to $5.05.
Kimberly-Clark shares fell $2.35, or -3.7%, in premarket trading
The Bottom Line
We have been recommending shares of Kimberly-Clark (
) since July 23, 2009, when the stock was trading at $54.46. The
company has a 4.24% dividend yield, based on Friday's closing stock
price of $66.05.
Kimberly-Clark Corporation (
) is a "Recommended" dividend stock, holding a Dividend.com DARS™
Rating of 3.5 out of 5 stars.
Be sure to visit our complete recommended list of the
Best Dividend Stocks
, as well as a detailed explanation of
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