- Kimberly-Clark (NYSE:NYSE:KMB) reports organic sales rose 2% in Q1, due to higher volumes.
- Developing and emerging markets increased 5% for the period.
- Foreign currency exchange rates negatively impacted revenue by 7%.
- Segment revenue: Personal care: $2.207B (-4.4%); Consumer Tissue: $1.496B (-5%); K-C Professional: $763M (-4%).
- Adjusted gross margin rate improved 100 bps to 36.6%.
- Segment operating profit: Personal care: $449M (-1.3%); Consumer Tissue: $280M (-3.8%); K-C Professional: $150M (+11.9%).
- Adjusted operating margin rate expanded 90 bps to 18.3%.
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FY2016 Guidance: Organic sales growth: 3% to 5%; Tax rate: 30.5% to 32.5%; Adjusted EPS: $5.95 to $6.15; Diluted EPS: $5.89 to $6.12.
- KMB -4.14% premarket.