Kimberly-Clark Corp, parent company of Kimberly-Clark Professional, reported third-quarter revenue of US$5 billion, an increase of 7 per cent from one year ago.
Kimberly-Clark also reported a quarterly net income of $479 million, or $1.39 per share, a slight decrease from $483 million, or $1.38 per share, for the same period last year.
Net sales in the company’s Kimberly-Clark Professional segment climbed 13 per cent from the previous year to $800 million while the personal care division boosted sales 14 per cent to $27 billion.
Mike Hsu, chairman and CEO, said the company’s third quarter results reflect a dynamic and challenging macro environment.
“Our organic sales were strong, including double-digit growth in a number of our personal care markets, and improving performance in tissue and our professional business. Market share performance also remained strong, demonstrating the strength of our innovation and excellent local commercial execution.
“Our earnings were negatively impacted by significant inflation and supply chain disruptions that increased our costs beyond what we anticipated. We are taking further action, including additional pricing and enhanced cost management, to mitigate these headwinds as it is becoming clear they are not likely to be resolved quickly.
“We will continue to invest in our brands and capabilities as we navigate through this volatile and difficult macro environment. Our strategy is working, and we remain confident in our future and our ability to create long-term shareholder value.”
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