April 23, 2018 / 11:48 AM / 5 months ago

Kimberly-Clark results beat as tissue sales climb

(Reuters) - Huggies and Kleenex producer Kimberly-Clark Corp (KMB.N) reported better-than-expected first-quarter profit and sales on Monday, helped by strong growth in tissue sales.

FILE PHOTO: A package of Kleenex brand tissue, made by Kimberly-Clark, is shown in Boca Raton, Florida October 22, 2013. REUTERS/Joe Skipper/File Photo

Shares of the company rose 2.5 percent at $102.50 in premarket trading on Monday.

Revenue jumped 5 percent to $4.73 billion in the quarter ended March 31, beating analysts’ average estimate of $4.60 billion.

Sales rose 3 percent in its personal care segment, which includes brands such as Huggies and Pull-Ups, and 9 percent in its consumer tissue segment which includes Kleenex and Scott.

Net income attributable to shareholders fell to $93 million, or 26 cents per share, from $563 million, or $1.57 per share. Results in the latest quarter included $577 million in restructuring charges.

Excluding items, the company earned $1.71 per share, beating analysts’ average estimate of $1.69.

Reporting by Vibhuti Sharma in Bengaluru and Richa Naidu in Chicago; Editing by Amrutha Gayathri

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