Kimberly-Clark Corporation (NYSE: KMB) today reported year-end 2022 results and provided its 2023 outlook.
Executive Summary
*Fourth quarter 2022 net sales of $5.0 billion, even with the year-ago period, including organic sales growth of 5 percent.
*Full-year 2022 net sales of $20.2 billion increased 4 percent, with organic sales up 7 percent.
*Diluted net income per share for the fourth quarter was $1.50 in 2022 and $1.06 in 2021. Full-year diluted net income per share was $5.72 in 2022 and $5.35 in 2021.
*Fourth quarter adjusted earnings per share were $1.54 in 2022, up 18 percent compared to $1.30 in 2021. Adjusted earnings per share exclude certain items described later in this news release.
*Full-year adjusted earnings per share were $5.63 in 2022, down 9 percent compared to $6.18 in 2021.
*Net sales in 2023 are expected to increase 0 to 2 percent, including organic sales growth of 2 to 4 percent. Diluted earnings per share is expected to increase 2 to 6 percent, driven by an operating profit increase in the mid-to-high single digits, both versus adjusted results in 2022.
*The company’s Board of Directors has approved a 1.7 percent increase in the quarterly dividend, the 51st consecutive annual increase.
“Kimberly-Clark delivered 7 percent organic growth in 2022 and an average of 4 percent organic growth on a three-year basis,” said Chairman and CEO Mike Hsu. “Our growth strategy is working with the support of excellent execution by our teams around the world and investments in our strong brands and commercial capabilities.”
Hsu continued, “I’m especially proud of how our teams navigated in what continues to be a dynamic operating environment. We mitigated inflationary pressures with successful revenue growth management initiatives and maintained cost discipline while continuing to invest in our business.”
“In 2022, we also marked Kimberly-Clark’s 150th anniversary – a significant milestone for the company. We’re proud of our heritage of category defining innovation rooted in providing care for our consumers. As we look to the future, we will continue to drive our strategy to deliver profitable growth for long-term value creation as we fulfill our purpose of Better Care for a Better World.”
details at: https://investor.kimberly-clark.com/node/35471/pdf