Consumer goods company Kimberly-Clark Corporation (NYSE: KMB) Tuesday reported a sharp increase in adjusted profit for the second quarter of 2024, despite a modest decrease in sales.
Net sales decreased 2% year-over-year to $5.03 billion in the June quarter as all three operating segments experienced weakness.
Net income attributable to Kimberly-Clark Corporation was $544 million or $1.61 per share in the second quarter, compared to $102 million or $0.30 per share in the prior-year quarter. On an adjusted basis, earnings increased 19% annually to $1.96 per share during the three months.
For fiscal 2024, the management expects organic net sales to grow at mid-single digit rate. Adjusted earnings per share is seen growing at a mid-to-high teens percentage rate on a constant-currency basis.
