2023-04-25 08:02:09 ET
- Kimberly-Clark ( NYSE: KMB ): Q1 GAAP EPS of $1.67 beats by $0.30 .
- Revenue of $5.2B (+2.0% Y/Y) beats by $140M .
- Q1 organic sales +5%.
- Q1 volume -5%.
- Changes in foreign currency exchange rates decreased quarterly sales by about 4%.
- Q1 gross margin improved by 340 basis points to 33.2%.
- Segment performance: Personal Care sales of $2.7B decreased 1%, while organic sales increased 3%; Consumer Tissue sales of $1.6B increased 4%, including organic growth of 7%; K-C Professional sales of $847M increased 9%, including organic growth of 11%.
- Raised 2023 outlook for adj. EPS growth of 6% to 10% from a previous range of 2% to 6%. The consensus EPS estimate is for 5.66% Y/Y growth.
- Sees 2023 operating profit "up low double digits" from a previous outlook of "up mid to high single digits."
- Keeps 2023 organic sales guidance of 2% to 4% and 2023 net sales guidance of 0% to 2% unchanged.
- Keeps 2023 share repurchases guidance unchanged at $100M to $150M.
- Press release
- Shares +0.4% in premarket trading.
For further details see:
Kimberly-Clark Q1 results beat estimates, co raises 2023 adj. EPS growth guidance