10.24.23
Kimberly-Clark’s third quarter sales of $5.1 billion increased 2%, with organic sales up 5%, driven by a 5% increase in price from ongoing revenue growth management programs and a 1% favorable product mix, offset by a 1% decrease in volume. Changes in foreign currency exchange rates decreased sales by approximately 2% and the divestiture of its tissue and K-C Professional business in Brazil decreased sales by approximately 1%.
In North America, organic sales increased 7% over last year, including increases of 9% in Personal Care, 4% in Consumer Tissue and 7% in K-C Professional.
Outside North America, organic sales were up 5% in developing and emerging (D&E) markets. Organic sales for developed markets (Australia, South Korea and Western/Central Europe) were in line with year ago.
Personal Care sales of $2.7 billion increased 3%, while organic sales increased 7%, driven by healthy contributions from price, mix and volume. Innovation, solid commercial execution and supply improvements contributed to volume growth, led by a 6% increase in North America.
“We delivered another strong quarter, with organic growth across all segments and continued margin progress,” says Kimberly-Clark chairman and CEO Mike Hsu. “I'm proud of how our teams around the world are executing our growth strategy. Our innovation and commercial capabilities continue to enhance the value proposition of our brands, while strong execution of our revenue growth management and ongoing productivity programs enabled us to restore gross margin to pre-pandemic levels.”
In North America, organic sales increased 7% over last year, including increases of 9% in Personal Care, 4% in Consumer Tissue and 7% in K-C Professional.
Outside North America, organic sales were up 5% in developing and emerging (D&E) markets. Organic sales for developed markets (Australia, South Korea and Western/Central Europe) were in line with year ago.
Personal Care sales of $2.7 billion increased 3%, while organic sales increased 7%, driven by healthy contributions from price, mix and volume. Innovation, solid commercial execution and supply improvements contributed to volume growth, led by a 6% increase in North America.
“We delivered another strong quarter, with organic growth across all segments and continued margin progress,” says Kimberly-Clark chairman and CEO Mike Hsu. “I'm proud of how our teams around the world are executing our growth strategy. Our innovation and commercial capabilities continue to enhance the value proposition of our brands, while strong execution of our revenue growth management and ongoing productivity programs enabled us to restore gross margin to pre-pandemic levels.”