Kimberly-Clark 8-K Report, Financial Results (Jan 28, 2025)

Kimberly-Clark Corporation reported fourth quarter and full year 2024 results in Exhibit 99.1, a press release dated January 28, 2025.

Management described 2024 as the first year of its Powering Care strategy and said full-year results exceeded its new long-term growth algorithm. Q4 net sales were $4.9 billion^a, down 0.8 percent, with organic sales growth of 2.3 percent and volume growth of 1.5 percent. Reported Q4 operating profit was $548 million, while adjusted operating profit was $684 million, up 2.1 percent.

Diluted EPS was $1.34^b on a reported basis and $1.50 adjusted, down 0.7 percent. For full year 2024, net sales were $20.1 billion, down 1.8 percent, with organic sales growth of 3.2 percent. Reported diluted EPS was $7.55 and adjusted EPS was $7.30, an increase of 11.1 percent.

Full-year cash provided by operations was $3.2 billion^c, and the company returned $2.6 billion to shareholders through dividends and share repurchases. The 2025 outlook expects organic sales growth to outpace category and country growth of approximately two percent. Reported net sales are forecast to face roughly 300 basis points of negative currency impact and a 240 basis point impact from the PPE divestiture and exit of private label diaper businesses in the US.

Adjusted operating profit is expected to grow at a high single-digit rate on a constant-currency basis, and adjusted EPS at a mid-to-high single-digit rate on the same basis. Reported EPS is expected to be reduced by approximately 350-400 basis points from currency translation.

The results include charges tied to the 2024 Transformation Initiative, a $565 million^d gain from the sale of the PPE business, and a $97 million impairment of intangible assets. Adjusted measures exclude these items, and the filing notes that the financial statements are unaudited.