Kimberly-Clark net sales rise 2.7% for Q1
Kimberly-Clark Corp. reported Q1 net sales of $4.2 billion, up 2.7%, with organic sales growth of 2.5%.
"Our first quarter results highlight the strength and resilience of the growth engine we've built through Powering Care," said Chairman and CEO Mike Hsu. "We continued to deliver solid volume-plus-mix performance while building share momentum despite continued geopolitical and macroeconomic uncertainty. We accomplished this by driving consumer-inspired innovation, growing brand love, and executing exceptionally well as a team. Simultaneously, we continue to generate meaningful cost savings that reinforce our strong financial foundation and enable us to invest in our exciting future.
"With our core business gaining momentum and one of the strongest innovation and commercial activation lineups in our history set to launch in the second quarter, we're preparing Kimberly-Clark to unlock the unique, generational value creation opportunity ahead with the acquisition of Kenvue. We have industry-leading momentum thanks to our teams around the world, and we're excited to accelerate into our next chapter and build a company unlike any other in our industry today."
Gross margin for the quarter was 36.8%; adjusted gross margin was 37.9%, down 60 basis points versus the prior year. Operating profit for the quarter was $753 million, while adjusted operating profit was $732 million, up 3.7% versus the prior year driven by strong productivity savings, lower marketing, research and general expenses reflecting overhead savings, and favorable currency translation.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Pack-n-Tape. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
