Kimberly-Clark beats by $0.06, reports revs in-line; reaffirms FY17 EPS and revenue guidance
- Reports Q3 (Sep) earnings of $1.60 per share, $0.06 better than the Capital IQ Consensus of $1.54; revenues rose 1.0% year/year to $4.64 bln vs the $4.65 bln Capital IQ Consensus.
- Organic sales rose slightly, as volumes increased more than 1 percent while net selling prices fell 1 percent.
- Co reaffirms guidance for FY17, sees EPS of low end $6.20-$6.35 vs. $6.20 Capital IQ Consensus Estimate.
- Continues to expect that full-year 2017 net sales and organic sales will be similar, or up slightly, year-on-year. FY16 net sales were $18.2 bln vs. the 18.336 bln Capital IQ Consensus Estimate.
- Chairman and Chief Executive Officer Thomas J. Falk said, "We delivered bottom-line growth in the third quarter in a challenging environment. We also achieved $125 million of cost savings and reduced discretionary spending to help offset inflationary cost headwinds. In addition, we returned more than $500 million to shareholders through dividends and share repurchases. We are confirming our previous full-year 2017 outlook and we continue to execute our Global Business Plan strategies for long-term success."