Q3 2024 Kimberly-Clark Corp Earnings Call Transcript
Key Points
- Kimberly-Clark Corp (KMB) has made significant progress in advancing its power and care strategy, which is expected to deliver above long-term growth targets.
- The company has successfully completed a new organizational structure aimed at making it a better, faster, and stronger organization.
- Kimberly-Clark Corp (KMB) is experiencing strong consumer offtake in North America, with personal care and consumer tissue growing by 3.2%, ahead of the category.
- The company is seeing positive market share trends, particularly in the U.S., where it is up or even in seven of eight categories.
- Kimberly-Clark Corp (KMB) has achieved meaningful gross margin expansion, tracking ahead of pre-COVID levels, supported by strong productivity and cost management strategies.
- Kimberly-Clark Corp (KMB) is facing discrete headwinds, including retail inventory reductions and weaker-than-anticipated demand in North American professional channels.
- The company is experiencing lower demand in private label businesses that it is exiting, which has impacted sales.
- There is some underlying demand weakness in professional and international markets, particularly in Latin America and Southeast Asia.
- Kimberly-Clark Corp (KMB) anticipates a potential 2% headwind in 2025 due to the cessation of a large club private label diaper business in the U.S.
- The company is navigating a dynamic consumer and retail environment, which could lead to further retail inventory reductions through the fiscal year ends.
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 Jakubik, 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
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