Kimberly-Clark posts net profit of US$ 509 million in the fourth quarter

Consumer goods multinational Kimberly-Clark posted net income of US$ 509 million in the fourth quarter, up 0.4% year-on-year. The company’s revenues totaled US$ 4.97 billion between October and December, an increase of 0.1% compared to the same period in 2022.

“We had a robust end to 2023, with organic growth, cost reductions and profit recovery above our initial expectations,” said CEO Mike Hsu in a statement.

The company’s organic sales, excluding exchange rate effects, rose 3% in the year. Sales volumes remained stable, while prices grew by 2% and revenues increased by 1% thanks to changes in mix.

The sale of Kimberly-Clark’s tissue paper business in Brazil to Suzano shrank the company’s sales by 1%.

For the year, the company made a profit of US$ 1.76 billion, down 9% on 2022. Revenues reached US$ 20.4 billion between January and December, up 1% year-on-year.

For 2024, the expectation is for single-digit growth in organic sales and adjusted earnings per share. K-C’s absolute sales this year will still be impacted by the sale of the business in Brazil and by exchange rate effects.