Kimberly-Clark Corporation announced its third quarter 2024 financial results on October 22, 2024, reporting net sales of $5.0 billion, a 4% decrease from the prior year. Organic sales, however, increased by 1%, driven by a 1% increase in price, while volume and mix remained flat.
The company's adjusted operating profit increased by 5%, and adjusted diluted EPS rose by 5% to $1.83, surpassing analyst estimates. Despite the profit performance, Kimberly-Clark revised its full-year 2024 organic net sales growth outlook to between 3% and 4%, down from a previous mid-single-digit rate, primarily due to discrete headwinds from changes in retail inventory levels and cost-conscious consumers shifting to cheaper alternatives.
Cash provided by operations for the first nine months of 2024 was $2.4 billion, an increase from $2.3 billion in the prior year, reflecting stronger operating results. Total debt decreased to $7.5 billion as of September 30, 2024, from $8.0 billion at the end of 2023.
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