Rising Costs Push Kimberly-Clark 4Q Profits Lower
Net income down 19 percent as costs climb
Tuesday, Jan 24, 2012 | Updated 9:58 AM CDT
Getty Images
Kimberly-Clark-brand Huggies diapers.
Kimberly-Clark Corp., the maker of Kleenex, Huggies and other household goods, says its fourth-quarter net income fell 19 percent as rising costs dampened its performance.
Its 2012 adjusted earnings forecast was below Wall Street's expectations.
Like many companies, Kimberly-Clark is struggling with higher costs to make and transport its products and has raised prices to help offset some of the expense.
The company reported Tuesday that it earned $401 million, or $1.01 per share, in the quarter. That compares with $492 million, or $1.20 per share, a year earlier.
Adjusted earnings were $1.28 per share. The adjusted results fell short of analysts' $1.30 per share forecast.
Revenue for the quarter ended Dec. 31 climbed 2 percent to $5.18 billion from $5.08 billion, but missed Wall Street's $5.21 billion estimate.
