Kimberly-Clark posts better -than-expected profit but sales fall slightly short

Kimberly-Clark Corp.
KMB,
-1.04%
said Tuesday it had net income of $587 million, or $1.73 a share, in the third quarter, up from $467 million, or $1.38 a share, in the year-earlier period. The parent to consumer brands including Huggies diapers, and Kleenex and Scott tissues, said adjusted per-share earnings came to $1.74, ahead of the $1.60 FactSet consensus. Sales rose 2% to $5.132 billion from $5.053 billion, just below the $5.157 billion FactSet consensus. The company raised its full-year guidance and now expects adjusted EPS growth of 15% to 17%, up from prior guidance of 10% to 14%. The stock has fallen 10% in the year to date, while the S&P 500
SPX,
-0.17%
has gained 9.8%.