Lobbying Charges Up for Kimberly - Analyst Blog

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Kimberly-Clark Corporation ( KMB ) reported that it has spent $110,000 during the third quarter 2011 on issues related to taxes and environment. Lobbying charges increased from the previous quarter to $50,000 and from the second quarter of 2010 to $80,000.

According to the filing with the House clerk's office, Kimberly-Clark lobbied the Congress and opposed proposals to increase the use of natural gas in transportation and power generation.

The company also opposes the strict government rules on the release of mercury, carbon monoxide and other harmful gases from industrial boilers.


Further, Kimberly-Clark lobbied to remove certain taxes and was in favor of comprehensive tax reform. The companies want to get rid of an excise tax on medical devices and expect the government to retain tax deductions for manufacturers.

The maker of well-known household brands like Huggies diapers and Kleenex tissues - Kimberly-Clark posted in-line results with the Zacks Consensus Estimate of adjusted earnings of $1.26 per share in the third quarter 2011.

The adjusted earnings in the third quarter of 2011 exclude the adjustment of charges related to the pulp and tissue restructuring of 17 cents per share. The results benefited from sales growth, cost savings, a lower share count and a reduced tax rate.

For fiscal 2011, Kimberly-Clark has reduced the high end of its earnings forecast to the range of $4.80 to $4.90 per share, compared with the company's previous expectations of $4.80 to $5.05.

Kimberly-Clark currently holds a Zacks #3 Rank, and competes with Procter & Gamble Co. ( PG ). On a long-term basis, we maintain a Neutral rating on the stock, which translates into a short-term Hold rating.


 
KIMBERLY CLARK ( KMB ): Free Stock Analysis Report
 
PROCTER & GAMBL ( PG ): Free Stock Analysis Report
 
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Business , Stocks

Referenced Stocks: KMB , PG

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