UPDATE 1-Kimberly-Clark profit beats, sales miss
July 22 (Reuters) - Kimberly-Clark Corp, best known for its Kleenex tissues, posted a higher-than-expected quarterly profit on Monday, as cost savings helped offset the negative impact of foreign exchange rates.
Still, Kimberly-Clark stood by its full-year outlook, which calls for 2013 earnings per share of $5.60 to $5.75, excluding items. The forecast includes expectations for higher cost savings but a bigger-than-anticipated hit from the stronger U.S. dollar, which eats into sales from international markets.
In the second quarter, the company earned $526 million, or $1.36 per share, up from $498 million, or $1.26 per share, a year earlier.
Excluding restructuring costs related to changes in its European business, earnings were $1.41 per share. On that basis, analysts on average were expecting $1.39 per share, according to Thomson Reuters I/B/E/S.
Sales were roughly flat at $5.27 billion, missing analysts' estimate of $5.34 billion.