KIMBERLY CLARK CORP Releases Q3 10-Q Report Highlighting Financial and Operational Growth
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KIMBERLY CLARK CORP, a global leader in personal care and consumer tissue products, has released its Form 10-Q report for the third quarter of the fiscal year. The report highlights significant financial and operational achievements, showcasing the company's robust performance amidst a challenging market environment.
Financial Highlights
- Net Sales: $5,132 million, increased by 2% compared to the same period last year, driven by organic sales growth of 5% despite a decrease in volume by 1%.
- Gross Profit: $1,838 million, reflecting an improvement due to higher net selling prices and cost savings initiatives.
- Operating Profit: $774 million, up by 18% from the previous year, benefiting from higher net selling prices, cost savings, and lower input costs.
- Net Income Attributable to Kimberly-Clark Corporation: $587 million, a 26% increase from the prior year, supported by improved operating profit and favorable currency effects.
- Diluted Earnings per Share: $1.73, representing a 25% increase over the previous year's $1.38, driven by strong operational performance and cost management.
Business Highlights
- Revenue Segments: The Personal Care segment saw a 3% increase in net sales for the third quarter, driven by a 7% organic sales growth. This was attributed to changes in net selling prices and product mix, along with a 2% increase in volume. North America led with a 9% increase in Personal Care sales.
- Geographical Performance: North America experienced a 7% increase in net sales, with Personal Care up by 9%, Consumer Tissue by 4%, and K-C Professional by 7%. Outside North America, net sales decreased by 8% in Developing and Emerging Markets but increased by 3% in Developed Markets.
- Sales Units: The Consumer Tissue segment reported a 1% decrease in net sales for the third quarter, with organic sales growth of 2% driven by a 5% increase in net selling prices, despite a 4% decrease in volume.
- Future Outlook: The company anticipates continued focus on revenue growth management, strategic pricing decisions, and managing product mix to drive sustainable profit growth. The FORCE program is expected to deliver significant cost savings, contributing to improved operating profit margins.