Kimberly-Clark Reports Profit Rises on Higher Selling Prices

By Kimberly Chin

Kimberly-Clark Corp. (KMB) reported profit rose significantly in the first quarter as the maker of Huggies diapers and Kleenex tissues said higher selling prices helped offset commodity and currency pressures.

Kimberly-Clark reported earnings of $454 million, or $1.31 a share, compared with $93 million, or 26 cents a year earlier. On an adjusted basis, the company reported earnings of $1.66 a share.

Analysts polled by Refinitiv expected the company to report earnings of $1.35 a share and adjusted earnings of $1.54 a share.

Sales fell 2% from a year earlier to $4.6 billion as foreign currency fluctuations weighed on gains. Organic sales rose 3% due to higher net selling prices. Analysts expected revenue of $4.54 billion.

Costs of products sold fell 6% to $3.21 billion.

Write to Kimberly Chin at kimberly.chin@wsj.com

(END) Dow Jones Newswires

April 22, 2019 07:59 ET (11:59 GMT)

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