Tue, Jul 23, 4:42 PM (46 days ago)
Kimberly-Clark Corporation's Q2 2024 report shows a 2% decrease in net sales to $5.0 billion, driven by a 5% negative impact from foreign exchange rates and 1% from divestitures, though organic sales grew by 4%. Operating profit surged to $655 million from $113 million in Q2 2023, influenced by cost-saving initiatives and improved pricing, offset by higher input costs and marketing expenses. Net income rose to $544 million ($1.61 per share) from $102 million ($0.30 per share) in Q2 2023. The 2024 Transformation Initiative, aimed at restructuring and cost efficiency, incurred $190 million in charges this quarter. Cash flow from operations was $1.5 billion for the first half of 2024. The sale of the personal protective equipment business for $640 million was completed on July 1, 2024.