Business
Kimberly-Clark Announces First Quarter 2023 Results
Net sales growth up 2 percent, organic growth up 5 percent Revenue Growth Management program drives significant margin improvements Company raises 2023
About this update from Kimberly-clark Corporation
[{"type":"text","content":"Net sales growth up 2 percent, organic growth up 5 percent\nRevenue Growth Management program drives significant margin improvements\nCompany raises 2023 outlook for EPS growth\nDALLAS, April 25, 2023 /PRNewswire/ -- Kimberly-Clark Corporation (NYSE: KMB) today reported first quarter 2023 results. Comparisons are made versus the prior year period, unless otherwise noted.\n\"I'm proud of our teams around the world for a strong start to the year. We grew organic sales by 5 percent, which reflects the health of our categories and the essential nature of our products,\" said Chairman and CEO Mike Hsu. \"Our growth strategy continues to deliver behind strong execution of our commercial programs. Revenue growth management initiatives drove continued sales momentum with a better-than-expected elasticity impact on volume. Looking ahead, we have an exciting innovation pipeline that will deliver superior performance in health, wellness and sustainability. With our strong portfolio of trusted brands, we have our sights set on growing our categories and winning with consumers to enable long-term, profitable growth.\"\nHsu continued, \"While inflationary pressures have yet to subside, we drove continued improvement in our gross margin this quarter. We will continue to lean into our productivity and cost savings programs to mitigate elevated costs, while strategically investing in future growth platforms that will expand our presence in attractive markets for years to come.\"\nQuarter Highlights\nDelivered strong top-line growth, with net sales of $5.2 billion, up 2 percent with organic sales growth of 5 percent. On a combined two year basis, organic growth increased 8 percent.Gross margin increased 340 basis points versus the prior year, driven by favorable net revenue realization offsetting inflation.Diluted earnings per share were $1.67, up 8 percent; up 24 percent versus adjusted earnings per share last year.Raised 2023 outlook for adjusted earnings per share growth of 6 to 10 percent, with operating profit up low double digits on a percent basis versus adjusted results last year.Strategic Highlights\nContinuing advances in commercial capabilities, including revenue growth management and in-market execution.Personal Care driving occasion-led innovation with Kotex overnights and GoodNites.Refreshed Cottonelle Ultra Comfort and Ultra Clean ...