Kimberly-Clark's Earnings Rise as Company Records $175 Million in Other Income
October 22 2019 - 8:17AM
Dow Jones News
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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