- Delivers net sales of $5.1 billion driven by 6 percent organic sales growth
- Strong EPS expansion driven by accretive innovation and productivity initiatives
- Company increases 2024 outlook to reflect solid start to year
DALLAS, April 23, 2024 - Kimberly-Clark Corporation (NYSE: KMB) today reported first quarter 2024 results characterized by positive volume and mix gains driven by pioneering, innovative new products, leveraging continued productivity momentum for strong earnings growth versus the prior-year period.
"We delivered an encouraging set of first quarter results as we embark on this next chapter of growth for Kimberly-Clark," said Kimberly-Clark Chairman and CEO Mike Hsu. "I'm very thankful for the strong execution from our teams around the world who are making this happen."
Hsu continued, "Our powerhouse pipeline of innovation drove sequentially stronger gains from volume-plus-mix. We continued our strong productivity momentum through our efforts to optimize our margin structure, and we are making good progress focusing our enterprise as we advance the implementation of our new operating model. We're excited about our opportunities to capitalize on this momentum on a global level, enabling us to deliver long-term value for our stakeholders."
Quarter Highlights
- Net sales of $5.1 billion were down 1 percent, with organic sales growth of 6 percent versus the prior year.
- Gross margin was 37.1 percent, up 390 basis points versus the prior year, driven by organic net sales growth and gross productivity gains.
- Diluted earnings per share were $1.91; adjusted earnings per share were $2.01, up 20 percent versus prior year including a $0.21 year-on-year headwind from currency translation.
Source: Kimberly-Clark
