Kimberly-Clark Announces Full-Year 2023 Results And 2024 Outlook

Kimberly-Clark Corporation (NYSE: KMB) today reported fourth quarter and full-year 2023 results and provided its 2024 outlook. Comparisons are made versus the prior year period, unless otherwise noted.

“We had a solid finish to 2023, delivering strong organic growth as well as cost and earnings recovery above our initial expectations,” said Kimberly-Clark Chairman and CEO Mike Hsu. “Our fourth quarter results demonstrate topline momentum with more balanced growth across volume, mix and price led by strong Personal Care results. I’m proud of our team’s outstanding execution, including enhancing the value proposition of our global brands through consumer-centric innovation and stronger, more integrated commercial capabilities.”

Hsu continued, “We enter 2024 having advanced the Company’s strategic foundation and financial position, and with confidence this phase of cost recovery and supply chain stabilization is largely behind us. Moving forward, we will continue to invest in differentiating our brands and enhancing our capabilities while we maintain a disciplined cost structure in our next phase of growth. I’m confident we are positioned to accelerate and enhance the performance of our business and create meaningful shareholder value as we deliver our purpose of better care for a better world.”

Fourth quarter sales of $5.0 billion were in line with prior year, with organic sales up 3 percent, driven by a 2 percent increase in price from ongoing revenue growth management programs and a 1 percent favorable product mix, with volumes in line with the prior year period and volume trends improving for the fourth consecutive quarter.

In North America, organic sales increased 3 percent over last year, including increases of 5 percent in Personal Care and 3 percent in Consumer Tissue that were partially offset by a 3 percent decrease in K-C Professional.

Outside North America, organic sales were up 5 percent in developing and emerging (D&E) markets. Organic sales in developed markets (Australia, South Korea and Western/Central Europe) grew 1 percent versus prior year.

Gross margin improved by 210 basis points to 34.9 percent, with higher net revenue realization, cost savings and favorable input costs partially offset by unfavorable currency impacts and higher other manufacturing costs.

Fourth quarter operating profit was $670 million compared to $712 million last year, resulting in an operating margin of 13.5 percent.
more at: https://www.news.kimberly-clark.com/2024-01-24-Kimberly-Clark-Announces-Full-Year-2023-Results-And-2024-Outlook

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