Kimberly-clark Corporation · NASDAQ:KMB

Kimberly-clark — Q1 2026 Earnings Presentation

36 slides from Kimberly-clark's earnings presentation, Apr 28, 2026

  1. Slide 1: Q1 2026 Earnings

    Q1 2026 Earnings April 28, 2026 KIMBERLY-CLARK | Q1 2026 EARNINGS

  2. Slide 2: Forward-Looking Statements

    Forward-Looking Statements Certain matters contained in this presentation concerning our plans and expectations regarding the pending mergers with Kenvue and the pending International Family Care and Professional (“IFP”) joint venture transaction with Suzano (“IFP Transaction”), the business outlook

  3. Slide 3: Core Business Momentum, Generational Value Creation

    BABY CARE W O M E N ’ S H E A LT H ACTIVE AGING GENERATIONAL VALUE CREATION CORE BUSINESS OPPORTUNITY MOMENTUM KENVUE ACQUISITION Successfully Transforming Differentiated Capabilities Core Financial Strength KIMBERLY-CLARK | Q1 2026 EARNINGS 3

  4. Slide 4: Q1 2026: Sustaining Strong Base Business Momentum

    Q1 2026: Sustaining Strong Base Business Momentum POWERING CARE Out-Innovate | Out-Market Best Product, Lowest Cost Fast & Agile Out-Activate Operating Model • Strong volume/mix-led • Continued momentum • Overhead efficiencies driving organic growth delivery on Gross Productivity strong Adjusted RSG

  5. Slide 5: Our Powering Care Strategy Is Sustaining Top-Line Momentum

    Our Powering Care POWERING CARE Strategy Is Sustaining Volume + Mix Top-Line Momentum 3.0% 2.6% 1.0% Building on 2 consecutive years of broad-based volume-plus-mix growth (0.7%) (1.6%) FY22 FY23 FY24 FY25 Q1'26 KIMBERLY-CLARK | Q1 2026 EARNINGS 5

  6. Slide 6: We're Delivering a Surge of Growth Initiatives in Q2

    We’re Delivering a Surge We're Delivering More and Faster Innovation Than Ever Before POWERING CARE of Growth Initiatives in Q2 2024/2025 OUT- INNOVATE ~60% >75% of total Net Sales of Organic Growth from Innovation1 from Innovation1 2026 POWERING OUT- CARE MARKET +50% 2x increase in Expected NSV mar

  7. Slide 7: Sustaining Industry-Leading Gross Productivity Savings

    Sustaining Industry-Leading BEST PRODUCT, LOWEST Gross Productivity Savings COST Q1 2026 On Track for 3rd Year of ~6% Gross Productivity Savings in 20262 Value Stream: Design to Value initiatives including standardized product platforms and strong 6.0% price negotiations unlocking value of Adj COGS1

  8. Slide 8: Building Momentum Toward Acquisition

    Building Momentum Toward Acquisition Scaled Consumer Health & Wellness Company with: ~$32B+ ~$7B Great Progress Revenue1 EBITDA1 Pre-Synergies Toward Day 1 Building the Future of Consumer-Centric Care for All Leading Pioneering • Excited to establish Baby Care Active Aging post-close leadership team

  9. Slide 9: Segment Results & Highlights

    SEGMENT RESULTS & HIGHLIGHTS KIMBERLY-CLARK | Q1 2026 EARNINGS

  10. Slide 10: North America

    North America • Strong volume+mix led organic growth in a challenging, value-conscious, consumer environment • Broad-based volume growth with strong performance in Baby and Child Care of +5% Organic Growth1 Operating Profit Growth • Q1 weighted share broadly in line with year ago while personal care

  11. Slide 11: North America: Market Share + Margin Momentum

    North America: Market Share + Margin Momentum COUNTRY:CATEGORY "CELL" ASSESSMENT: % OF NET SALES GAINING/HOLDING SHARE1 18 Cells, Net Sales Weighted2 23.7% 23.5% 22.9% • Innovation to drive best 95% performance at the lowest cost 67% • Breakthrough marketing to build brand love • Differentiated valu

  12. Slide 12: U.S.: Driving Growth in Facial Tissue with Kleenex Innovation

    U.S.: Driving Growth in Facial Tissue OUT- INNOVATE with Kleenex Innovation U.S. FACIAL TISSUE +180 bps L3M Market Share vs. year ago 1. g KIMBERLY-CLARK | Q1 2026 EARNINGS 12

  13. Slide 13: "Don't Be Afraid": Breaking the Stigma with Depend

    “Don’t Be Afraid”: OUT- MARKET Breaking the Stigma with Depend U.S. DEPEND 1 +80 bps +190 bps L3M Market Share L3M Consumption Growth vs. year ago Ahead of Category Deion Sanders Coach Prime 1 Values based on All Outlet data for Adult Care HE KIMBERLY-CLARK | Q1 2026 EARNINGS 13

  14. Slide 14: U.S.: End-to-End Kotex Relaunch Leveraging Breakthrough Gravity Technology

    U.S.: End-to-End Kotex Relaunch Leveraging POWERING CAR OEU T - Breakthrough Gravity Technology INNOVATE GRAVITY SCALED IN TOP MARKETS AND ENTERPRISE MARKETS Powered by Gravity Core Technology Rapidly pulls blood to the bottom of the pad to help women feel clean, dry, and protected 5X System with Le

  15. Slide 15: "Own Your Flow": New Global Kotex Platform

    “Own Your Flow”: OUT- MARKET New Global Kotex Platform KIMBERLY-CLARK | Q1 2026 EARNINGS 15

  16. Slide 16: International Personal Care

    International Personal Care • Strong volume+mix led organic growth with Focus Markets +5% and Enterprise Markets +2% Organic Growth1 Operating Profit Growth • Baby Care in Focus Markets grew double-digit organic growth in the quarter 21.9% • Continued share momentum in Focus Markets led by growth in

  17. Slide 17: International Personal Care: Market Share + Margin Momentum

    International Personal Care: Market Share + Margin Momentum % OF NET SALES: KEY CELLS GAINING/HOLDING SHARE1 61 Cells, Net Sales Weighted2 16.2% 14.0% 11.3% • Innovation to drive best performance at the lowest cost 84% • Breakthrough marketing to build 59% brand love 52% • Differentiated value propo

  18. Slide 18: Airflow Technology Enabling Huggies Advanced Breathable Comfort

    Airflow Technology Enabling Huggies OUT- Advanced Breathable Comfort INNOVATE Breakthrough material innovation with clear absorbency and breathability benefits to keep babies drier and more comfortable. Consumer Satisfaction 4.9 / 5.0 Product Rating Proven Product Superiority Breathability Absorbenc

  19. Slide 19: Indonesia: Winning in Premium and Driving Performance Across Diapers Tiers

    Indonesia: Winning in Premium and Driving OUT- INNOVATE Performance Across Diapers Tiers Indonesia Diapers & Pants First in Indonesia! +320 bps L3M Market Share vs. year ago 2 Special Zones to Separate Pee & Poo for No-Worry Irritation KIMBERLY-CLARK | Q1 2026 EARNINGS 19

  20. Slide 20: Brazil: Taking Diapers Share and Scaling Innovation

    Brazil: Taking Diapers OUT- INNOVATE Share and Scaling Innovation 2025 marked a milestone year +1.9 PP +22% +40 bps enabled by portfolio relaunch Brand Equity Premium growth sales L3M Market Share vs year ago Value Market Share 21.0 20.8 20.5 20.2 FY' 23 FY'24 FY'25 L3M '26 KIMBERLY-CLARK | Q1 2026

  21. Slide 21: Making Great Progress Toward Day 1 Readiness

    Making Great Progress Toward Day 1 Readiness Regulatory & Readiness Cost Synergy Opportunities Growth Acceleration Advancing Country:Category IFP transaction on track Addressing stranded costs “Cell” assessment of combined for mid-year 2026 close from IFP transaction K-C + Kenvue portfolio Planning,

  22. Slide 22: Financial Results & Outlook

    FINANCIAL RESULTS & OUTLOOK KIMBERLY-CLARK | Q1 2026 EARNINGS 22

  23. Slide 23: Q1 2026: Consistent Execution Enables Strong Delivery in Challenging Environment

    Q1 2026: Consistent Execution Enables Strong Delivery in Challenging Environment Organic Sales Adjusted Operating Adjusted EPS Adjusted EPS Adjusted Free Growth1 Profit Growth1 Growth from Growth Cash Flow1 Continuing attributable to Broad-based volume growth while Operations1 Kimberly-Clark1 brands

  24. Slide 24: Greater Cost Discipline, Risk Management & Earnings Stability

    Greater Cost Discipline, Risk Management & Earnings Stability Lower Adjusted Gross Margin Volatility1 12 Month Rolling Volatility ~1,200 bps Reduction Global Market vs K-C Prices Paid2 26 (70%) 24 ~17% 22 20.2% 20 18 Market 16 14 % -70% 12 10 ~5% 8 K-C 6 4 6.2% 2 2020 - 2023 2024 - 2025 0 Jan-20 Jan

  25. Slide 25: 2026 Outlook

    2026 Outlook1 Volume+Mix Led Organic Sales • Weighted-Average Market growth currently ~2.5% Growth2 In Line to Ahead of Market • Reported results expected to be negatively impacted by ~50 bps from U.S. private label Growth diaper business exit, with a ~50 bps tailwind from currency translation Mid-t

  26. Slide 26: Core Business Momentum, Generational Value Creation

    BABY CARE W O M E N ’ S H E A LT H ACTIVE AGING GENERATIONAL VALUE CREATION CORE BUSINESS OPPORTUNITY MOMENTUM KENVUE ACQUISITION Successfully Transforming Differentiated Capabilities Core Financial Strength KIMBERLY-CLARK | Q1 2026 EARNINGS 26

  27. Slide 27: Appendix

    APPENDIX KIMBERLY-CLARK | Q1 2026 EARNINGS

  28. Slide 28: Non-GAAP Financial Measures

    Non-GAAP Financial Measures The following provides the reconciliation of the non-GAAP financial measures provided in this presentation to the most closely related GAAP measure. These measures include: Organic Sales Growth, Adjusted Cost of Goods Sold, Adjusted Gross Profit, Adjusted RSG&A, Adjusted

  29. Slide 29: Non-GAAP: Reconciliation of Organic Sales Growth

    Non-GAAP: Reconciliation of Organic Sales Growth Three Months Ended March 31, 2026 Percentage change vs. the prior year period NA IPC Total Net Sales Growth (0.6) 9.1 2.7 Currency Translation (0.3) (5.2) (2.0) Divestitures and Business Exits 2.7 - 1.8 Organic Sales Growth(a) 1.8 4.0 2.5 (a) Table ma

  30. Slide 30: Non-GAAP: Reconciliation of Adjusted Cost of Goods Sold

    Non-GAAP: Reconciliation of Adjusted Cost of Goods Sold Three Months Ended March 31 $ Millions 2026 2025 Cost of Products Sold $2,629 $2,545 2024 Transformation Initiative (42) (53) Adjusted Cost of Goods Sold $2,587 $2,492 KIMBERLY-CLARK | Q1 2026 EARNINGS 30

  31. Slide 31: Non-GAAP: Reconciliation of Adjusted Gross Profit

    Non-GAAP: Reconciliation of Adjusted Gross Profit Three Months Ended March 31 $ Millions 2026 2025 Gross Profit $1,534 $1,509 2024 Transformation Initiative 42 53 Adjusted Gross Profit $1,576 $1,562 KIMBERLY-CLARK | Q1 2026 EARNINGS 31

  32. Slide 32: Non-GAAP: Reconciliation of Adjusted RSG&A

    Non-GAAP: Reconciliation of Adjusted RSG&A Three Months Ended March 31 $ Millions 2026 2025 Marketing, research and general expense $920 $855 Advertising & Promotion (299) (269) 2024 Transformation Initiative (30) (22) Kenvue Acquisition (48) - Adjusted RSG&A $543 $564 KIMBERLY-CLARK | Q1 2026 EARNI

  33. Slide 33: Non-GAAP: Reconciliation of Adjusted Operating Profit

    Non-GAAP: Reconciliation of Adjusted Operating Profit Three Months Ended March 31 $ Millions 2026 2025 Operating Profit $753 $631 2024 Transformation Initiative 51 75 Kenvue Acquisition 48 - Insurance Recovery (120) - Adjusted Operating Profit $732 $706 Year-Over-Year Growth 3.7% Currency Translatio

  34. Slide 34: Non-GAAP: Reconciliation of Adjusted Earnings Per Share from Continuing Operations

    Non-GAAP: Reconciliation of Adjusted Earnings Per Share from Continuing Operations Three Months Ended March 31 2026 2025 Diluted Earnings per Share from Continuing Operations $1.70 $1.39 2024 Transformation Initiative 0.09 0.23 Kenvue Acquisition 0.13 - Insurance Recovery (0.32) - Adjusted Earnings

  35. Slide 35: Non-GAAP: Reconciliation of Adjusted Earnings Per Share Attributable to Kimberly-Clark

    Non-GAAP: Reconciliation of Adjusted Earnings Per Share Attributable to Kimberly-Clark Three Months Ended March 31 2026 2025 Diluted Earnings per Share Attributable to Kimberly-Clark $2.00 $1.70 2024 Transformation Initiative 0.09 0.23 Kenvue Acquisition 0.13 - Insurance Recovery (0.32) - IFP Separa

  36. Slide 36: Non-GAAP: Reconciliation of Adjusted Free Cash Flow

    Non-GAAP: Reconciliation of Adjusted Free Cash Flow Three Months Ended March 31 $ Millions 2026 2025 Cash Provided by Operations $745 $327 Capital Expenditures ($424) ($204) Cash Restructuring Charges 43 60 IFP Separation Costs 20 - Kenvue Acquisition-Related Costs 21 - Adjusted Free Cash Flow $405

Kimberly-Clark — Q1 2026 Earnings Presentation on 6ix