Kimberly-Clark beats by $0.02, misses on revs; reaffirms FY16 guidance :
- Reports Q1 (Mar) earnings of $1.53 per share, $0.02 better than the Capital IQ Consensus of $1.51; revenues fell 4.6% year/year to $4.48 bln vs the $4.54 bln Capital IQ Consensus.
- Performance benefited from organic sales growth, cost savings, input cost deflation and a lower adjusted effective tax rate. Comparisons were negatively impacted by unfavorable foreign currency exchange rate effects and increased marketing, research and general spending on a local currency basis. Adjusted earnings per share in both years exclude certain items described later in this news release.
- Co reaffirms guidance for FY16, sees EPS of $5.95-6.15 vs. $6.15 Capital IQ Consensus Estimate. Continues to expect our organic sales to grow 3 to 5 percent. Compared to the first quarter, KMB expects more benefits from targeted growth initiatives, product innovations and improved net realized revenue.
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