DALLAS, April 22, 2022 -- Kimberly-Clark Corporation (NYSE: KMB) today reported first quarter 2022 results.
Executive Summary
- First quarter 2022 net sales of $5.1 billion increased 7 percent compared to the year-ago period, including organic sales growth of 10 percent.
- Diluted net income per share for the first quarter was $1.55 in 2022 and $1.72 in 2021.
- First quarter adjusted earnings per share were $1.35 in 2022, down 25 percent compared to $1.80 in 2021. Adjusted earnings per share exclude certain items described later in this news release.
- The company is now targeting full-year 2022 organic sales growth of 4 to 6 percent, compared to our prior outlook of 3 to 4 percent.
- The company expects adjusted earnings per share of $5.60 to $6.00, in line with its initial expectations for diluted net income per share. The adjusted outlook range excludes the net benefit associated with the acquisition of the controlling interest of Thinx Inc.
"I'm pleased with our team's continued excellent execution during this volatile and highly inflationary environment. We delivered double-digit organic sales growth with strong increases across all our segments in the first quarter," said Chairman and CEO Mike Hsu. "Our growth strategy is working and we're continuing to invest in our business. Additionally, we continue to take the necessary actions to mitigate macro headwinds and remain committed to improving our margins over time."
Hsu continued, "On March 26th of this year, Kimberly-Clark marked its 150th anniversary — a significant milestone for the company. We're proud of our heritage of category defining innovation and our strong culture of care that enables our employees and communities to thrive. Today, we're building on that foundation with conviction in our purpose of Better Care for a Better World as we continue to provide essential products to billions of consumers around the world."
Source: Kimberly-Clark
