Kimberly-Clark Corporation reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2013. The company reported sales of $5.3 billion in the fourth quarter of 2013 were even with the year-ago period. Operating profit was $822 million in the fourth quarter of 2013 versus $449 million in 2012. Adjusted operating profit was $836 million in the fourth quarter of 2013, up 5% compared to $798 million in the year-ago period. Cash provided by operations in the fourth quarter of 2013 was $945 million compared to an all-time record $1,119 million in the prior year. The decrease was driven by a smaller improvement in working capital versus the year-ago period, partially offset by higher cash earnings. Capital spending for the fourth quarter was $256 million in 2013 and $330 million in 2012. Income before income taxes and equity interests was $754 million against $382 million a year ago. Net income attributable to company was $539 million or $1.40 per diluted share against $267 million or $0.68 per diluted share a year ago. The improvement in adjusted earnings per share was driven by organic sales growth and cost savings, partially offset by input cost inflation and unfavorable foreign currency rates.

Sales of $21.2 billion in 2013 were essentially even with the prior year. Changes in foreign currency rates, and lost sales in conjunction with European strategic changes and pulp and tissue restructuring actions, each reduced sales by approximately 2%. Operating profit of $3,208 million in 2013 increased 19% compared to $2,686 million in 2012. Adjusted operating profit was $3,325 million in 2013, up 7% versus $3,120 million in 2012. Diluted net income per share was $5.53 in 2013 and $4.42 in 2012. Adjusted earnings per share were $5.77 in 2013, up 10% compared to $5.25 in 2012. The increase in adjusted earnings per share was primarily due to higher adjusted operating profit, along with increased equity income and a lower share count. Cash provided by operations for the full year was $3,040 million in 2013 compared to $3,288 million in 2012. Income before income taxes and equity interests was $2,945 million against $2,420 million a year ago. Net income attributable to company was $2,142 million against $1,750 million a year ago. Capital spending was $256 million against $330 million a year ago.

The company expects adjusted earnings per share of $6.00 to $6.20, diluted net income attributable to company of $5.95 to $6.17. Net sales decrease of 1% to an increase of 2%. Adjusted operating profit growth of 3% to 7%. Interest expense is expected to increase somewhat, mostly due to higher debt levels. Adjusted effective tax rate and effective tax rate both between 31.0% and 32.5%. Capital spending of $1.0 to $1.2 billion, generally in line with the company's long-range target of 4 ½% to 5 ½% of net sales.