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Kimberly-Clark Reports Sales Increase

Personal Care sales grow 8%

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By: Tara Olivo

Associate Editor at Nonwovens Industry, Rodman Media

Kimberly-Clark’s sales of $5.1 billion in the second quarter of 2022 increased 7% compared to the year-ago period. Changes in foreign currency exchange rates reduced sales 2%. Organic sales increased 9% as net selling prices rose 9%, product mix increased sales 1% and volumes declined 1%. In North America, organic sales increased 11% in consumer products and increased 8% in K-C Professional. Outside North America, organic sales rose 8% in developing and emerging (D&E) markets and 9% in developed markets.

“I’m pleased to close the first half of the year with another quarter of excellent execution by our teams who delivered strong organic sales growth, with increases in all our segments. Our growth strategy is working,” says Mike Hsu, chairman and CEO, Kimberly-Clark. “Our results also reflect ongoing market volatility and significant input cost inflation. We continue to be thoughtful with our response to inflation, focusing on providing value to our consumers while leveraging price and cost discipline to mitigate macro headwinds for margin improvement over time.”

In the Personal Care Segment, second quarter sales of $2.7 billion increased 8%. Net selling prices increased 9%, product mix improved 1% while volumes declined 1%. The acquisition of the controlling interest in Thinx increased sales 1 point and changes in foreign currency exchange rates decreased sales by 2%. Second quarter operating profit of $466 million increased 3%. Results benefited from organic sales growth and cost savings. The comparison was impacted by input cost inflation, higher marketing, research and general spending as well as unfavorable foreign currency effects.

Sales in North America increased 10%. Net selling prices increased 9% and the Thinx acquisition increased sales 1%. Organic sales were up in all personal care segments.

Sales in D&E markets increased 7%. Net selling prices increased sales 12% and product mix improved 3 points while volumes declined 6%. Changes in foreign currency exchange rates decreased sales 2%. Organic sales growth was driven by Latin America and China.

Sales in developed markets outside North America (Australia, South Korea and West-ern/Central Europe) increased 1%. Volumes increased 5%, net selling prices increased sales 4% and product mix improved sales 1 point. Changes in foreign currency exchange rates reduced sales 9%.

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