Kimberly-Clark profit up 24%
October 23, 2007 By Pulp & Paper Canada
Dallas, TX — Kimberly-Clark Corp posted a 24% increase in quarterly profit as the weaker dollar and strong sales v…
Dallas, TX — Kimberly-Clark Corp posted a 24% increase in quarterly profit as the weaker dollar and strong sales volume in Huggies baby wipes and Kleenex tissue helped offset rising costs for pulp, according to their third quarter report
Third-quarter profit was $453.1 million, or $1.04 a share, compared with $364.2 million, or 79 cents a share, a year earlier
Excluding restructuring charges and a gain for a legal settlement, earnings were $1.07 a share, compared with the $1.06 average analyst estimate compiled by Reuters Estimates.
Like many consumer products companies, Kimberly-Clark has been trying to keep up with rising costs by increasing prices. The company announced a price increase earlier this month, but it will not take effect until early next year.
The company has also been cutting costs and is looking for growth in developing and emerging markets.
Sales rose 9.7% to $4.62 billion, topping the average analyst estimate of $4.51 billion compiled by Reuters Estimates. The weaker dollar, which raises the value of sales overseas for U.S. companies, added about 3% to sales, the company said.
Source: Kimberly-Clark, Reuters Limited<br>
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