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During 3Q16, $TTC's operating earnings as a percent of sales rose 60 BP to 13.6% vs. 3Q15. Interest expense was up slightly 1.3% and effective tax rate was 30.9% vs. 31.3% in 3Q15. The company expects full-year 2016 tax rate to be about 30.5%. Net inventories fell 6.6% to $327.1MM, while trade payables rose 1.3% to $172.2MM for the quarter.
Visa ($V) set to release it earning after market close today. With new CEO resigning so close to the earnings, should we expect to see any surprises? Visa has been making strong moves with Visa Europe acquisition, partnership with PayPal and a 15% increase if quarterly dividends.
Kimberly Clark Corp ($KMB) has been in decline for most of the year, the stock has also not been getting any analyst love. Will today’s earnings break the trend? Revenue has been up and down in the last four quarters, let us see what this quarter brings.
$KMB down close to 4% after it misses on earnings and revenue. Forecasts are lower for the year.