Headline: Kimberly-Clark Surpasses Q3 Profit Estimates, Falls Short on Revenue Expectations

Kimberly-Clark Corporation (NYSE:KMB) reported its third-quarter 2024 results on Thursday, surpassing earnings forecasts but falling short on revenue expectations. The company also revised its full-year organic sales growth forecast. The consumer products giant posted adjusted earnings per share of $1.83, exceeding analysts' expectation of $1.70. However, the quarterly revenue came in at $5 billion, slightly below the projected $5.06 billion. Net sales decreased by 4% compared to the same period last year, influenced by roughly a 3% negative currency impact and the divestiture of the K-C Professional Personal Protective Equipment business, accounting for approximately 1% of the decline. Organic sales saw a 1% increase, driven by a 1% price increase. Kimberly-Clark Chairman and CEO Mike Hsu stated, "Our third-quarter results demonstrate strong performance across all areas of our business as we transform our organization." Hsu highlighted that the company achieved organic growth on both the top and bottom lines through market share gains and increased efficiency. The adjusted gross margin rose to 36.7%, up 90 basis points from the same period last year, propelled by strong gross productivity gains. For the full year 2024, Kimberly-Clark revised its organic net sales growth forecast to 3-4%, down from its previous mid-single-digit growth prediction. The company attributed this revision to specific challenges arising from changes in retail inventory levels. It maintained its guidance that adjusted operating profit and adjusted earnings per share, on a constant currency basis, would grow in the mid-to-high teens.