Financial Reports & Markets
Kimberly-Clark operations going steady, as per third quarter results for 2022
November 8, 2022 By P&PC Staff/Kimberly-Clark
Kimberly-Clark reported sales of $5.1 billion in the third quarter of 2022 increased, a one percent increase compared to the year-ago period.
Changes in foreign currency exchange rates reduced sales by four percent. In North America, organic sales decreased by two percent in consumer products and increased five percent in K-C Professional.
Highlights from the Q3 2022 results include
- Third quarter 2022 net sales of $5.1 billion increased one percent compared to the year-ago period, including organic sales growth of five percent.
- Diluted net income per share for the third quarter was $1.38 in 2022 and $1.39 in 2021.
- Third-quarter adjusted earnings per share were $1.40 in 2022, down 14 percent compared to $1.62 in 2021. Adjusted earnings per share exclude certain items described later in this news release.
- Diluted net income per share for 2022 is expected to be $5.67 to $6.10.
- The company continues to target full-year 2022 organic sales growth of 5 to 7 percent and expects adjusted earnings per share at the lower end of $5.60 to $6 range.
“Our third quarter results reflect strong execution by our teams around the world in the face of a challenging macro environment,” said chairman and CEO Mike Hsu. “We delivered organic sales growth across all our segments and continued to provide our consumers with value-inspired innovation.”
Hsu continued, “We continue to execute our plan to restore margins over time and are seeing progress with sequential margin improvement this quarter. As we navigate persistent input cost inflation, we’re focused on driving our growth strategy, serving consumers, customers and communities while living our purpose of Better Care for a Better World.”
Consumer Tissue Segment
Third-quarter sales in this segment was $1.6 billion, a two percent increase. Net selling prices increased sales by nine percent while volumes declined by approximately three percent. Changes in foreign currency exchange rates reduced sales by four percent.
Third quarter operating profit of $218 million decreased by two percent. The comparison was impacted by input cost inflation, higher marketing, research and general spending and unfavourable foreign currency effects. Results benefited from organic sales growth, cost savings and lower other manufacturing costs.
Sales in North America increased by five percent. Net selling prices rose seven percent while volumes declined two percent. Higher net selling prices were achieved across all sub-segments while volume decline was primarily in bathroom tissue.
Sales in D&E markets increased by three percent. Net selling prices rose 12 percent and the product mix improved by one point. Volumes were down six percent. Changes in foreign currency exchange rates decreased sales by five percent.
Sales in developed markets outside North America decreased by two percent. Changes in foreign currency exchange rates decreased sales by 13 percent. Net selling prices rose approximately 12 percent while volumes declined 1 point.
Print this page