Kimberly-Clark reaffirms 2010 adj. profit guidance; anticipates saving more money
By APMonday, March 22, 2010
Kimberly-Clark backs outlook, raises cost-cut goal
NEW YORK — The maker of Kleenex and Huggies reiterated its full-year adjusted profit forecast and expects to save more money through cost-cutting than initially anticipated.
Kimberly-Clark Corp. says it still sees 2010 adjusted earnings between $4.80 and $5 per share. Analysts predict a profit of $4.87 per share.
The consumer products maker also says its cost reduction program will likely result in savings of $400 million to $450 million for 2008 through 2010. It previously anticipated savings of $350 million to $450 million.
Long term, Kimberly-Clark, based in Dallas, expects earnings-per-share growth in the mid- to high-single digits through 2015 and a sales increase of 3 percent to 5 percent.
