By Allison Prang 
 

Kimberly-Clark Corp.'s (KMB) profit rose as the company reported $175 million in other income, helping boost profit as net sales grew just over 1%.

The drug company's profit was $671 million, up 49% from the comparable quarter a year earlier. Earnings were $1.94 a share, up from $1.29 a share.

Adjusted earnings were $1.84 a share, up from $1.71 a share. Analysts polled by FactSet were expecting $1.80 a share.

Net sales were $4.64 billion, up 1.3%. Analysts were expecting $4.65 billion.

Kimberly-Clark reported net other income of $175 million up from $2 million a year earlier. The company said that includes about a $182 million gain before tax from selling "a manufacturing facility and associated real estate."

Gross profit also rose as the company's cost of products sold declined.

 

Write to Allison Prang at allison.prang@wsj.com

 

(END) Dow Jones Newswires

October 22, 2019 08:02 ET (12:02 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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