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- Kimberly-Clark Corp (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
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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