kimberly -Clark Kimberly-Clark Corp. stock rose almost 9% in morning trading after the maker of Huggies diapers and Kleenex tissues posted better-than-expected first-quarter results and raised its full-year sales outlook.
The company posted adjusted earnings of $1.35 for the quarter, topping expectations of $1.24, according to FactSet. Sales rose 7% to $5.10 billion, topping analysts' expectations of $4.92 billion.
The company noted that net selling prices rose 6%, and still volumes grew 2%.
For 2022, the company also raised its sales guidance to growth of 2% to 4%, from 1% to 2%. The company said it expects net selling prices to continue to rise.
At the same time, Kimberly-Clark raised its full-year expectations around key input costs, saying it now expects those costs to rise by between $1.1 billion and $1.3 billion, up from its previously issued guidance of an increase of $750 million to $900 million.
Shares of Kimberly-Clark rose almost 9% to $139.56 Friday, on pace for its largest percent increase since March 13, 2020, when it rose 9.7%. The stock was down about 2% so far this year, before Friday's gains.