Kimberly-Clark Announces First Quarter 2022 Results

Executive Summary
*First quarter 2022 net sales of $5.1 billion increased 7 percent compared to the year-ago period, including organic sales growth of 10 percent.
*Diluted net income per share for the first quarter was $1.55 in 2022 and $1.72 in 2021.
*First quarter adjusted earnings per share were $1.35 in 2022, down 25 percent compared to $1.80 in 2021. Adjusted earnings per share exclude certain items described later in this news release.
*The company is now targeting full-year 2022 organic sales growth of 4 to 6 percent, compared to our prior outlook of 3 to 4 percent.

“I’m pleased with our team’s continued excellent execution during this volatile and highly inflationary environment. We delivered double-digit organic sales growth with strong increases across all our segments in the first quarter,” said Chairman and CEO Mike Hsu. “Our growth strategy is working and we’re continuing to invest in our business. Additionally, we continue to take the necessary actions to mitigate macro headwinds and remain committed to improving our margins over time.”

Hsu continued, “On March 26th of this year, Kimberly-Clark marked its 150th anniversary — a significant milestone for the company. We’re proud of our heritage of category defining innovation and our strong culture of care that enables our employees and communities to thrive. Today, we’re building on that foundation with conviction in our purpose of Better Care for a Better World as we continue to provide essential products to billions of consumers around the world.”

First Quarter 2022 Operating Results
Sales of $5.1 billion in the first quarter of 2022 increased 7 percent compared to the year-ago period. Changes in foreign currency exchange rates reduced sales 2 percent. Organic sales increased 10 percent as net selling prices rose 6 percent, volumes grew 2 percent and product mix increased sales 2 points. In North America, organic sales increased 13 percent in consumer products and increased 5 percent in K-C Professional. Outside North America, organic sales rose 10 percent in developing and emerging (D&E) markets and 8 percent in developed markets.

First quarter operating profit was $693 million in 2022 and $770 million in 2021. Results in 2022 include the net benefit of the acquisition of a controlling interest of Thinx and 2021 results include charges related to the 2018 Global Restructuring Program.
details at: https://investor.kimberly-clark.com/news-releases/news-release-details/kimberly-clark-announces-first-quarter-2022-results

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