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Kimberly-Clark profit slides to miss estimates as sales fall short amid reduced demand for tissue

·1 min read
Kimberly-Clark profit slides to miss estimates as sales fall short amid reduced demand for tissue
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Kimberly-Clark Corp. shares slid 3.9% in premarket trade Friday, after the consumer goods company missed earnings estimates for the second quarter and lowered its guidance, as higher costs and reduced demand for consumer tissue weighed. The company posted net income of $404 million, or $1.19 a share, in the quarter, down from $681 million, or $1.99 a share, in the year-earlier period. Adjusted per-share earnings came to $1.47, missing the $1.71 FactSet consensus. Sales edged up 2% to $4.722 bill