Kimberly-Clark beats expectations despite profit decline, gives full-year guidance below Street expectations

Kimberly-Clark Corp. /zigman2/quotes/201766540/composite KMB -0.46% stock fell 5.1% in Wednesday premarket trading after the consumer goods company gave 2022 guidance below Street expectations. Net income totaled $357 million, or $1.06 per share, down from $539 million, or $1.58 per share, last year. Adjusted EPS of $1.30 beat the FactSet consensus of $1.25. Sales totaled $4.965 billion, up from $4.836 billion and ahead of the FactSet consensus for $4.892 billion. Kimberly-Clark brands include Kotex feminine hygiene products, Cottonelle bath tissue and Huggies diapers. The company announced that it raised its quarterly dividend by 1.8% to $1.16, payable on April 4 to stockholders of record as of March 4. For 2022, Kimberly-Clark is guiding for a sales increase of 1% to 2%, earnings of $5.60 to $6.00 and a cost increase of $750 million to $900 million due to increases in raw materials and other items. The FactSet consensus is for sales of $20.042 billion, suggesting growth of about 3.4%, and EPS of $6.74. Kimberly-Clark shares are up 1.8% over the past year while the S&P 500 index /zigman2/quotes/210599714/realtime SPX -0.38% has gained 13.2%.