DALLAS - Kimberly-Clark Corporation has posted net sales of US$5.1 billion for its second quarter, an increase of 7 per cent compared to the year-ago period, boosted by a strong performance from its Personal Care segment
Operating profit was $621 million up from $613 million in 2021.
On the back of the results, the company is now targeting full-year 2022 organic sales growth of 5 to 7 per cent compared to prior outlook of 4 to 6 per cent.
"I'm pleased to close the first half of the year with another quarter of excellent execution by our teams who delivered strong organic sales growth, with increases in all our segments. Our growth strategy is working," said Mike Hsu, Chairman and CEO, Kimberly-Clark. "Our results also reflect ongoing market volatility and significant input cost inflation. We continue to be thoughtful with our response to inflation, focusing on providing value to our consumers while leveraging price and cost discipline to mitigate macro headwinds for margin improvement over time."
Hsu continued: "As we manage our business prudently in the near-term, we're committed to investing in our people, brands and capabilities to ensure we continue to be well positioned to deliver balanced and sustainable growth over the long-term."
In the Personal Care business, sales were up 8 per cent to $2.7 billion with the acquisition of the controlling interest in Thinx increasing sales by one point. Second quarter operating profit of $466 million increased 3 per cent.
The results benefited from organic sales growth and cost savings although the comparison was impacted by input cost inflation, higher marketing, research and general spending as well as unfavorable foreign currency effects.