(Adds Outlook, dividend)
Kimberly-Clark Corp (KMB) revealed earnings for its fourth quarter that increased from last year and beat the Street estimates.
The company's earnings came in at $507 million, or $1.50 per share. This compares with $357 million, or $1.06 per share, in last year's fourth quarter.
Excluding items, Kimberly-Clark Corp reported adjusted earnings of $520 million or $1.54 per share for the period.
Analysts on average had expected the company to earn $1.51 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 0.0% to $4.964 billion from $4.965 billion last year.
Outlook:
Looking ahead, for the fiscal 2023, the company expects its earnings per share to rise to 2-6 percent versus 2022 adjusted earnings per share of $5.63. Analysts, on average, estimate the personal care products provider to post income per share of $6.47, for the year. For the full-year, KMB, projects net sales growth of flat to 2 percent, from last year's $20.175 billion. Analysts, on average, estimate the firm to report net sales of $20.38 billion, for the year.
dividend:
In addition the Board has decided to raise the quarterly dividend by 1.7 percent, to $1.18 per share, up from $1.16 per share in 2022. The first dividend will be payable on April 4, to stockholders of record on March 10.
Kimberly-Clark Corp Q4 earnings at a glance (GAAP) :
-Earnings (Q4): $507 Mln. vs. $357 Mln. last year.
-EPS (Q4): $1.50 vs. $1.06 last year.
-Analyst Estimate: $1.51
-Revenue (Q4): $4.964 Bln vs. $4.965 Bln last year.
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