- Kimberly-Clark Corp (NYSE: NYSE:KMB) reported second-quarter FY22 sales growth of 7% year-on-year, to $5.06 billion, beating the consensus of $4.97 billion.
- Organic sales increased 9% as net selling prices rose 9%, volumes fell 1%, and product mix increased sales 1%.
- In North America, organic sales rose 11% in consumer products and 8% in K-C Professional.
- Sales from the personal care segment increased 8%, the consumer tissue segment rose 8%, and K-C Professional climbed 5%.
- Adjusted EPS of $1.34 beat the analyst consensus of $1.29.
- Gross profit increased 3% Y/Y to $1.53 billion. Marketing, research, and general expenses rose 6% Y/Y to $906 million.
- Operating income increased 1% to $621 million, with an operating margin of 12.3%.
- Cash provided by operations in the quarter was $740 million. The company held $311 million in cash and equivalents as of June 30, 2022.
- Outlook: Kimberly-Clark expects FY22 organic sales to increase 5% - 7% (prior outlook 4% - 6%).
- The company maintains an FY22 adjusted EPS forecast of $5.60 - $6.00 versus the consensus of $5.76.
- Price Action: KMB shares are trading lower by 1.54% at $131.37 on the last check Tuesday.
- Photo Via Company
Read at Benzinga