Health and hygiene products maker Kimberly-Clark Corporation (
) on Friday said its second quarter profit rose 24% from last year,
beating expectations, although its revenue fell short and the
company trimmed its full-year sales outlook.
The Dallas-based company reported second quarter net income of
$498 million, or $1.20 per share, compared with $403 million, or 97
cents per share, in the year-ago period.
Sales rose close to 3% from last year, to $4.86 billion.
On average, Wall Street analysts expected a smaller profit of
$1.13 per share, albeit on higher revenue of $4.95 billion.
Looking ahead, the company said it expects full-year profits to
fall on the lower-end of its previously-announced range of $4.80 to
$5.00 per share. It cut its full-year sales outlook, though, noting
it now expects sales to rise 3% to 5%, compared with previous
estimates for a 4 percent to 6 percent.
Kimberly-Clark shares fell 27 cents, or -0.4%, in premarket
The Bottom Line
We have been recommending shares of KMB since July 23, 2009, when
the stock was trading at $54.46. The company has a 4.19% dividend
yield, based on last night's closing stock price of $62.96.
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
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, as well as a detailed explanation of
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