KMB - Why Huggies Maker Kimberly-Clark Shares Are Sinking Today | Benzinga
Kimberly-Clark Corp (NYSE:KMB) shares are trading lower after the company reported fourth-quarter FY23 results.
Sales remained flat Y/Y at $4.97 billion, missing the consensus estimate of $4.98 billion. Organic sales increased by 3%, driven by a 2% increase in price and a 1% favorable product mix, with volumes at par with the prior year.
In North America, organic sales rose 5% in Personal Care and 3% in Consumer Tissue but fell 3% in K-C Professional.
Gross margin expanded 210 bps Y/Y to 34.9%, led by higher net revenue realization, cost savings, and favorable input costs.
Operating income fell 6% Y/Y to $670 million, with ...