Health and hygiene company Kimberly-Clark Corporation (KMB) on Monday backed its 2010 full-year guidance, and intimated that it now expects to save more money than originally anticipated through cost cuts.
The Dallas-based company said it still expects 2010 full-year profit to range from $4.80 and $5 U.S. per share, while analysts predict $4.87 U.S. per share for the year.
Additionally, Kimberly-Clark announced it now expects savings resulting from its cost-cutting program through 2010 of $400-450 million U.S., compared with prior cost savings estimates of $350-450 million U.S.
Looking ahead, the company predicted EPS growth in mid- to high-single digits through 2015, on sales growth of 3% to 5%.
Kimberly-Clark shares fell 33 cents U.S., or -0.5%, in premarket trading Monday.
The Bottom Line
Shares of KMB have been recommended since July 23, when the stock was trading at $54.46 U.S.
The company has a 4.30% dividend yield based on Friday's closing stock price of $61.43 U.S.
Kimberly-Clark Corporation (KMB) is a "recommended" dividend stock, holding a Dividend.com DARS Rating of 3.5 out of five stars.
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