Kimberly-Clark Announces Second Quarter 2023 Results

“We delivered another quarter of strong organic sales growth and gross margin expansion,” said Chairman and CEO Mike Hsu. “Our growth strategy is working, and given the strength of our first-half results, we’re raising our full-year outlook.”

Hsu added, “Continued improvement in gross margin positions us well to invest in superior brand value propositions, including innovation and digital leadership, which will help grow our market shares over time and deliver balanced and sustainable growth for long-term shareholder value.”

Quarter Highlights
*Delivered net sales of $5.1 billion, up 1 percent, with organic sales growth of 5 percent.
*Gross margin was 33.7 percent, up 350 basis points; adjusted gross margin was 34.0 percent, up 380 basis points versus the prior year, driven by favorable net revenue realization and productivity, offsetting inflation.
*Diluted earnings per share were $0.30, primarily driven by $1.36 per share in non-cash charges for the impairment of intangible assets; on an adjusted basis, earnings per share were $1.65.
*Raised 2023 outlook for organic growth to 3% – 5%, and for adjusted earnings per share growth of 10% – 14%, with adjusted operating margin up 150 basis points at the midpoint versus last year.
details at: https://www.news.kimberly-clark.com/2023-07-25-Kimberly-Clark-Announces-Second-Quarter-2023-Results

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