Kimberly Clark Corp (NYSE:KMB) shares were a touch higher after the company maintained its full year earnings per share guidance even though its third quarter performance was a little disappointing.
In a statement, the company left unchanged its guidance for full-year 2017 EPS at the low end of the US$6.20 to US$6.35 range.
Revenue totalled US$4.64bn, up from US$4.59bn but was below consensus estimates. Net income for the quarter totalled US$567.0mln or US$1.60 per share, up from US$550.0mln or US$1.52 per share in the corresponding period of last year.
Chairman and Chief Executive Officer Thomas J. Falk said, "We delivered bottom-line growth in the third quarter in a challenging environment. We also achieved US$125mln of cost savings and reduced discretionary spending to help offset inflationary cost headwinds.
"In addition, we returned more than US$500mln to shareholders through dividends and share repurchases. We are confirming our previous full-year 2017 outlook and we continue to execute our Global Business Plan strategies for long-term success," he added.
In premarket deals, Kimberly Clark shares were up 0.93% at US$114.50.