Consumer goods multinational Kimberly-Clark posted a net profit of $ 472 million in the third quarter of this year, down 30% compared to the same period in 2019. Earnings per share stood at $ 1.39, against US $ 1.94 in the same period last year.
The result of the company was impacted by building adaptation costs due to the pandemic and increased investments in advertising.
With the increase of sales in all segments in the US, net revenue rose 1% in the period, to $ 4.7 billion. Sales in emerging countries fell in all sectors.
In the tissue segment, sales rose 9% to $ 1.6 billion. Again, sales were driven by an 11% growth in the United States, while emerging markets recorded a 4% drop in the period.
In the personal care sector, sales grew 1%, to US $ 2.3 billion in the third quarter. In this case, they were driven by a 6% growth in America, which was partially offset by a 4% drop in emerging countries, which includes China, Eastern Europe, India and Latin America. These countries were adversely affected by result of the exchange rate.
The company also reported that it closed the third quarter with cash of US $ 559 million, 37% less than in the same period in 2019. Investments in the period were US $ 258 million, less than the US $ 298 million of the previous year. K-C had a debt of $ 8.4 billion at the end of September, against $ 7 billion in December 2019.