Kimberly-Clark, a leading consumer-products company, has announced slightly higher sales in its latest quarter. The company attributed this increase to a combination of price adjustments and changes in product mix.
During the fourth quarter that ended on December 31, the company reported a net income of $509 million, compared to $507 million for the same period in the previous year. Earnings per share remained steady at $1.50. Adjusted earnings per share were $1.51, falling short of analysts’ estimates of $1.54.
Overall sales rose to $4.97 billion from $4.96 billion, meeting expectations from analysts who had predicted sales of $4.99 billion.
While sales remained consistent with the previous year, organic sales saw a 3% increase. Kimberly-Clark attributed this growth to a 2% rise in price resulting from ongoing revenue growth management strategies, as well as a favorable 1% product mix. Volume trends remained stable compared to the prior year, with improvements seen for the fourth consecutive quarter.
Mike Hsu, Chief Executive of Kimberly-Clark, expressed satisfaction with the results, stating, “Our fourth-quarter performance reflects positive momentum in terms of volume, mix, and price. We are particularly pleased with the strong performance in personal care products.”
Looking ahead, Kimberly-Clark projects a low-to-mid single-digit percentage increase in organic net sales for 2024 compared to the prior-year period. Additionally, the company expects adjusted earnings per share to grow at a high single-digit rate on a constant currency basis compared to the previous year.