KMB Kimberly Clark Corp

   By Imani Moise 
 

Kimberly-Clark Corp. (KMB) reported first-quarter earnings before the opening bell Monday. Here's what you need to know:

EARNINGS: The consumer products giant which makes Huggies diapers and Kleenex tissues said substantial charges related to its restructuring plan which includes about 5,000 job cuts, dented its bottom line. Overall for the quarter, it reported a profit of $93 million, or 26 cents a share down from $563 million, or $1.57 a share a year earlier. Excluding special items, earnings rose 8.9% to $1.71 a share topping Wall Street's expectations of $1.69 a share.

Revenue: Sales rose 5.1% to $4.73 billion compared to the $4.6 billion forecast by analysts. Excluding a boost from foreign exchange rates, sales rose 2% due to improved performance in North America.

COST CUTS: The company has resorted to cost cuts as it grapples with a competitive pricing environment and rising costs for inputs like pulp, oil and other raw materials. Chief Executive Thomas Falk said margins were hurt by "significant commodity inflation," but that the company has already cut $90 million in costs to help offset the trend.

STOCK MOVE: Shares rose 2% to $102 during premarket trading. The stock has fallen 17% so far this year while the S&P 500 has dropped 0.1%.

Write to Imani Moise at imani.moise@wsj.com

(END) Dow Jones Newswires

April 23, 2018 08:24 ET (12:24 GMT)

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