Kimberly-Clark Slashes Costs in Profit Beat

Kimberly-Clark Beats Street by a Nose

Kimberly-Clark posted a better-than-expected rise in adjusted quarterly profit on Friday, as the Kleenex tissue maker cut some costs and stepped up its marketing push against larger competitors.

Adjusted fourth-quarter earnings per share, which exclude restructuring costs, rose to $1.37 from $1.28 a year earlier, topping analysts' average forecast of $1.35 per share, according to Thomson Reuters I/B/E/S.

Net profit declined to $267 million, or 68 cents per share, from $401 million, or $1.01 per share, a year earlier.