Facing rising pulp and other commodity costs, Kimberly-Clark Corp. said Monday it would increase prices on most of its North American consumer products, implement additional cost savings, and reduce overhead spending, as it reported a first-quarter profit that declined from the year-ago period. The Dallas-based company said it earned $1.09 per share, compared with $1.14 per share a year ago. Analysts polled by Capital IQ expected per-share earnings of $1.18, on average. Kimberly-Clark cut the low end of its 2011 forecast to $4.80 from $4.90, but kept the high end at $5.05, as it now expects commodity costs, including oil-based materials, of $450 million to $550 million, compared with a previous estimate of $200 million to $250 million. "Our near-term...
Companies mentioned in this report are:
- Clorox Co.
- Colgate-Palmolive Co.
- Kimberly-Clark Corp.
- Procter & Gamble Co.
- Church & Dwight Co. Inc.
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