Kimberly-Clark Corporation (NYSE: KMB) today reported third quarter 2023 results. Comparisons are made versus the prior year period, unless otherwise noted.
“We delivered another strong quarter, with organic growth across all segments and continued margin progress,” said Kimberly-Clark Chairman and CEO Mike Hsu. “I’m proud of how our teams around the world are executing our growth strategy. Our innovation and commercial capabilities continue to enhance the value proposition of our brands, while strong execution of our revenue growth management and ongoing productivity programs enabled us to restore gross margin to pre-pandemic levels.”
Hsu continued, “Based on our year-to-date performance, we have raised our full-year outlook. We’re confident that continued investments in our brands and commercial programs will deliver superior value to our consumers and balanced and sustainable growth for our shareholders.”
Quarter Highlights
*Delivered net sales of $5.1 billion, up 2 percent, with organic sales growth of 5 percent.
*Gross margin was 35.8 percent, up 530 basis points versus the prior year, driven by favorable net revenue realization and productivity.
*Diluted earnings per share were $1.73; adjusted earnings per share were $1.74, up 24 percent versus prior year.
*Raised 2023 outlook for organic growth to 4% – 5%, and for adjusted earnings per share growth of 15% – 17%, with adjusted operating margin up 170 basis points at the midpoint versus last year.
details at: https://www.news.kimberly-clark.com/2023-10-24-Kimberly-Clark-Announces-Third-Quarter-2023-Results