Kimberly-Clark Corp. said its first-quarter normalized net income came to $1.28 per share, compared with the S&P Capital IQ consensus estimate of $1.51 per share.

EPS rose year over year from $1.24.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $464.4 million, a gain from $454.5 million in the year-earlier period.

The normalized profit margin increased to 10.6% from 9.7% in the year-earlier period.

Total revenue declined year over year to $4.48 billion from $4.69 billion, and total operating expenses fell from the prior-year period to $3.70 billion from $3.75 billion.

Reported net income increased 16.7% on an annual basis to $545.1 million, or $1.50 per share, from $467.2 million, or $1.27 per share.