Q3 2024 Kimberly-Clark de Mexico SAB de CV Earnings Call Transcript
Key Points
- Kimberly - Clark de Mexico SAB de CV (KCDMF) is making significant progress in advancing its power and care strategy, aiming to deliver above its long-term growth algorithm in 2024.
- The company is driving consumption and growing its market share across categories through innovation and enhanced commercial execution.
- Productivity improvements are fueling investments in innovation, supporting growth initiatives while delivering bottom-line growth.
- The new organizational structure, completed on October 1, is expected to make Kimberly - Clark de Mexico SAB de CV (KCDMF) a better, faster, and stronger organization.
- The company has successfully exited certain private label businesses, allowing it to focus on proprietary, science-based innovation and branded growth.
- Retail inventory reductions and lower demand in private label businesses are creating pressures on growth in the near term.
- Weaker than anticipated demand in North American professional channels and some deceleration in Asia and Latin America are noted as headwinds.
- The company faces a 2% headwind in 2025 due to the cessation of production for a large club private label diaper business in the US.
- There is some underlying demand weakness in professional and international markets, impacting overall growth.
- The quarter's results fell short of internal expectations and the Street's, partly due to transitory factors like inventory movements and hurricane impacts.
Greetings, welcome to the Kimberly-Clark's third-quarter 2024 question-and-answer session. I will now turn the conference over to your host, Chris Jakubik, Vice President, Investor Relations. You may begin.
Thank you. And hello, everyone. This is Chris KIC, head of Global Investor Relations at Kimberly Clark and welcome to our Q&A session for our third quarter, 2024 business update. During our remarks today, we will make some forward-looking statements that are based on how we see things today. Actual results may differ due to risks and uncertainties, and these are discussed in our earnings release and our filings with the SEC.
We will also discuss some non-GAAP financial measures today. These non-GAAP financial measures should not be considered a replacement for and should be read together with GAAP results, and you can find the GAAP to non-GAAP reconciliations within our earnings release and the supplemental materials posted at investor.kimberly-clark.com. Before we begin, I'm
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