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00:02Kimberly-Clark reported higher first-quarter profit and sales,
00:06driven by product innovation and resilient consumer demand,
00:09according to the Wall Street Journal.
00:11Adjusted earnings came in at $1.97 per share on $4.16 billion in sales,
00:18beating Wall Street estimates of $1.93 per share and $4.09 billion.
00:26Profit rose to $665 million, or $2 per share,
00:31from $567 million, or $1.70 per share, a year earlier.
00:37Sales increased 2.7% as the company cited product innovation and resilient demand.
00:44The adjusted earnings figure included a $0.13 contribution
00:48from the pending $40 billion Kenview acquisition,
00:51which is expected to close in the second half of the year.
00:55The company maintained its full-year outlook and expects flat, adjusted earnings.
01:00Executives said higher costs tied to the Middle East conflict
01:03could reduce profit by $50 million
01:05and drive $150 million to $170 million in input costs.
01:10For all things money, visit Benzinga.com.
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