Kimberly-Clark stock rises toward a 1-year high after Kleenex, Huggies brands parent beats earnings expectations, raises profit growth outlook

Shares of Kimberly-Clark Corp. KMB rose 0.8% toward a one-year high in premarket trading Tuesday, after Kleenex, Huggies and Cottonelle brands parent reported first-quarter results that topped expectations and raised its full-year profit outlook. Net income rose to $566 million, or $1.67 a share, from $523 million, or $1.55 a share, in the year-ago period. That beat the FactSet consensus for earnings per share of $1.32. Sales grew 2.0% to $5.20 billion, above the FactSet consensus of $5.06 billion, as a 10% increase in pricing and favorable product mix offset a 5% decline in volume. “Revenue growth management initiatives…