Personal care products giant Kimberly-Clark on Tuesday reported first-quarter earnings and revenue that beat Wall Street expectations. But the stronger dollar, which proved to be a headwind for the first three months of the year, was also expected to hamper full-year results.
The company behind such popular brands Kleenex, Scott, and Huggies reported adjusted quarterly profit of $1.42 per share, which beat estimates by 9 cents. Revenue of $4.69 billion also exceeded forecasts.
The stock was up more than 4 percent in premarket trading. (Click here for the latest price.)
"More of the beat was outside the U.S. We had very strong results in emerging markets," Kimberly-Clark Chairman and CEO Tom Falk told CNBC's "Squawk Box," shortly after the earnings announcement.
Currency impact was a 9 percent drag on revenues in the first quarter.
The dollar was a "bigger impact on the bottom line though," Falk said. "In the first quarter, the bottom line impact was 25 cents a share, almost an 18 point drag. And so we're saying this could be as much as a 20 percent drag for the full year."
For full-year 2015, the company said currency fluctuations were expected to hit net sales by 9 to 10 percent—slightly more negative than previous forecasts.