04.23.24
Kimberly-Clark’s first quarter sales of $5.1 billion were 1% lower than the prior-year period, including negative impacts of approximately 5% from foreign currency translation and approximately 1% from the divestiture of the Tissue and K-C Professional business in Brazil in June 2023. Organic sales were up 6%, driven by a 4% increase in price, 1% favorable product mix and a 1% increase in volume. Price-led gains reflected necessary pricing actions to address higher local costs in hyperinflationary economies, mainly in Argentina. Volume and mix were positive across North America, Developing and Emerging (D&E) markets, as well as Developed Markets (represents Australia, South Korea and Western/Central Europe).
In North America, organic sales increased 3% versus last year, driven by 2% growth in Personal Care and 6% growth in Consumer Tissue, partially offset by a decline of 1% in K-C Professional.
In D&E markets, organic sales were up 15% reflecting both pricing gains as well as volume and mix gains. Organic sales for Developed Markets decreased 2%, driven by lower pricing that primarily reflected comparisons with temporary, energy surcharge-related price increases in Western Europe in the prior-year period.
Personal Care sales of $2.7 billion were in line with the year-ago period, while organic sales increased 10%, driven by pricing actions in hyperinflationary economies as well as volume and mix gains. Innovation, solid commercial execution and supply improvements contributed to volume growth, led by a 4% increase in D&E markets and a 1% increase in North America partially offset by 2% decline in Developed Markets.
K-C Professional sales of $823 million decreased 3% due to divestitures and business exits. Organic sales increased 2%, driven by price realization and mix benefits from strong demand for new washroom solutions. Lower volumes reflected ongoing rightsizing of the portfolio, primarily in North America.
In North America, organic sales increased 3% versus last year, driven by 2% growth in Personal Care and 6% growth in Consumer Tissue, partially offset by a decline of 1% in K-C Professional.
In D&E markets, organic sales were up 15% reflecting both pricing gains as well as volume and mix gains. Organic sales for Developed Markets decreased 2%, driven by lower pricing that primarily reflected comparisons with temporary, energy surcharge-related price increases in Western Europe in the prior-year period.
Personal Care sales of $2.7 billion were in line with the year-ago period, while organic sales increased 10%, driven by pricing actions in hyperinflationary economies as well as volume and mix gains. Innovation, solid commercial execution and supply improvements contributed to volume growth, led by a 4% increase in D&E markets and a 1% increase in North America partially offset by 2% decline in Developed Markets.
K-C Professional sales of $823 million decreased 3% due to divestitures and business exits. Organic sales increased 2%, driven by price realization and mix benefits from strong demand for new washroom solutions. Lower volumes reflected ongoing rightsizing of the portfolio, primarily in North America.