- Kimberly Clark Corp (NYSE:KMB) reported first-quarter FY22 sales growth of 7% year-on-year to $5.1 billion, beating the consensus of $4.9 billion.
- Organic sales increased 10% as net selling prices rose 6%, volumes grew 2%, and product mix increased sales 2 points.
- In North America, organic sales rose 13% in consumer products and 5% in K-C Professional.
- Sales from the personal care segment increased 11%, the consumer tissue segment rose 4%, and K-C Professional climbed 4%.
- Adjusted EPS of $1.35 beat the analyst consensus of $1.23.
- Gross profit fell by 4% Y/Y to $1.52 billion. Marketing, research, and general expenses increased 9% Y/Y to $886 million.
- Operating income declined 10% to $693 million, with an operating margin of 13.6%.
- Cash provided by operations in the quarter was $204 million. The company held $493 million in cash and equivalents as of March 31, 2022.
- Outlook: Kimberly-Clark expects FY22 sales to increase 2% - 4% (prior assumption 1% - 2%).
- The company sees FY22 adjusted EPS of $5.60 - $6.00 versus the consensus of $5.75.
- Price Action: KMB shares are trading higher by 5.39% at $135.00 in premarket on the last check Friday.
- Photo Via Wikimedia Commons
