Kimberly-Clark (NYSE:KMB) earnings for first quarter of 2020 have KMB stock up on Wednesday. This comes after reporting adjusted earnings per share (EPS) of $2.13, which is better than Wall Street’s estimate of $1.97. The personal care company’s revenue of $5.01 billion also comes in above analysts’ estimates of $4.89 billion.
Now, let’s take a closer look at the most recent Kimberly-Clark earnings report.
- Adjusted per-share earnings are up 28.31% from $1.66 during the same time last year.
- Revenue comes in 8.21% higher than the $4.63 billion from the first quarter of 2019.
- Operating income of $904 million is a 38.02% increase year-over-year from $655 million.
- The Kimberly-Clark earnings report also includes a net income of $675 million.
- That’s a 44.85% jump compared to its net income of $466 million in the same period of the year prior.
Mike Hsu, Chairman and CEO of Kimberly-Clark, said this about the KMB earnings report:
“A combination of increased consumer demand for our products and strong execution by our teams is reflected in our first quarter results. We increased investments in our business and our market positions remain broadly healthy. In addition, we generated very strong cash flow and further strengthened our balance sheet by executing two long-term debt transactions in the quarter.”
Kimberly-Clark is withdrawing its previous outlook for 2020 due to the novel coronavirus. The company also notes that it is temporarily suspending its share buyback program.
KMB stock was up 2.38% as of Wednesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.