Home / Knowledge / News / Company / Kimberly-Clark Q3 organic sales increase 5%
Kimberly-Clark Q3 organic sales increase 5%
22
Oct '13
Kimberly-Clark Corporation reported third quarter 2013 results and narrowed its guidance for full-year 2013 adjusted earnings per share.    

Executive Summary

-Third quarter 2013 net sales of $5.3 billion were even with the year-ago period.  Organic sales rose 5 percent, including a 10 percent increase in K-C International.  Organic sales exclude the impact of changes in foreign currency exchange rates and lost sales as a result of European strategic changes and pulp and tissue restructuring actions.

-Diluted net income per share for the third quarter of 2013 was $1.42 versus $1.30 in 2012.   

-Third quarter adjusted earnings per share were $1.44 in 2013 compared to $1.34 in the prior year.  The improvement was driven by organic sales growth, cost savings, a lower effective tax rate and a lower share count, partially offset by input cost inflation and unfavorable foreign currency rates.  Third quarter 2013 adjusted earnings per share exclude restructuring costs for European strategic changes.  Adjusted earnings per share in the third quarter of 2012 exclude costs for pulp and tissue restructuring actions.

-Full-year 2013 adjusted earnings per share are anticipated to be $5.65 to $5.75 compared to the company's previous guidance range of $5.60 to $5.75.  Estimated 2013 adjusted earnings per share exclude restructuring costs for European strategic changes and a balance sheet remeasurement charge due to the February 2013 devaluation of the Venezuelan bolivar.

Third Quarter 2013 Operating Results

Sales of $5.3 billion in the third quarter of 2013 were even with the year-ago period.  Organic sales rose 5 percent, with increased sales volumes of 3 percent, higher net selling prices of 1 percent and improved product mix of 1 percent.  Changes in foreign currency exchange rates, and lost sales in conjunction with European strategic changes and pulp and tissue restructuring actions, each reduced sales by more than 2 percent.

Operating profit was $807 million in the third quarter of 2013, up 3 percent from $783 million in 2012.  Adjusted operating profit was $821 million in the third quarter of 2013, up 1 percent compared to $814 million in the year-ago period.  Adjusted results exclude $14 million of restructuring costs for European strategic changes in 2013 and $31 million of costs for pulp and tissue restructuring actions in 2012. 

The increase in year-over-year adjusted operating profit included benefits from organic sales growth and $70 million in cost savings from the company's FORCE (Focused On Reducing Costs Everywhere) program.  Input costs increased $55 million overall versus 2012, with $30 million of higher costs for raw materials other than fiber, $15 million of increased fiber costs and $10 million of higher distribution costs. 

Foreign currency translation effects, as a result of the weakening of several currencies relative to the U.S. dollar, reduced operating profit by $25 million.  Currency transaction effects also negatively impacted the operating profit comparison.      

Click here to read full results

Kimberly-Clark


Must ReadView All

USDA projects 2019-20 cotton stocks lowest in 8 years

Textiles | On 19th Jun 2019

USDA projects 2019-20 cotton stocks lowest in 8 years

The world cotton ending stocks for 2019-20 are projected at 77.3...

Budget allocation for Bangla RMG sector not enough: BGMEA

Textiles | On 19th Jun 2019

Budget allocation for Bangla RMG sector not enough: BGMEA

The readymade garments (RMG) industry in Bangladesh received the...

AAFA, 3 groups send letter to Myanmar over workers' rights

Apparel/Garments | On 19th Jun 2019

AAFA, 3 groups send letter to Myanmar over workers' rights

The American Apparel & Footwear Association and three other trade...

Interviews View All

Milind Khandwe, Hindoostan Innovation Centre

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Cindy McNaull, Cordura

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Headhonchos, Textiles & allied industry

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Karen Lou,

Karen Lou

Australia-based Sunseeker has been creating swimwear since 1970. Sunseeker ...

Pietro Turrin,

Pietro Turrin

Industrie Tessili Bresciane (ITB) has served numerous industries and...

Farheen B Rahman & Priti Jain,

Farheen B Rahman & Priti Jain

Founded by business-designer duo <b>Priti Jain and Farheen Rahman</b>,...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

Pierre Wiertz talks about the vast world of sustainable nonwovens and...

Michaela Griggs & Peggy Schulz, Barco Uniforms

Michaela Griggs & Peggy Schulz
Barco Uniforms

Founded in 1929, Barco Uniforms started as an apparel company for beauty...

Giorgio Mantovani, Corman S.p.A

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Joe Ikareth, Joe Ikareth

Joe Ikareth
Joe Ikareth

<b>Joe Ikareth</b> has a rock-solid fashion and textiles background, which ...

Aneeth Arora, Péro

Aneeth Arora
Péro

The Woolmark Company has partnered with handmade fashion label Péro and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search