Kimberly-Clark 3Q net sales down 3 per cent
(USA, Nov. 03, 2016) Kimberly-Clark Corporation reported 3Q 2016 results. Sales of $4.6 billion in the 3Q 2016 were down approximately 3% compared to the year-ago period. Changes in foreign currency exchange rates reduced sales by more than 2%. Organic sales were essentially even with the prior year.
3Q operating profit was $836 million in 2016 and $779 million in 2015. Adjusted operating profit of $836 million in the 3Q 2016 increased 1% compared to $826 million in the year-ago period. Items excluded from adjusted operating profit are described later in this release.
Chairman and CEO Thomas J. Falk said, “We experienced a more challenging economic and competitive environment in the 3Q. Nonetheless, our market share positions are broadly healthy. We achieved strong cost savings, improved margins and increased cash flow in the quarter. We also allocated capital in shareholder-friendly ways. Our focus remains on continuing to compete effectively in the near-term as we execute our Global Business Plan strategies for long-term success.”
For the first nine months of 2016, sales of $13.7 billion decreased approximately 3% compared to the year-ago period, as changes in foreign currency exchange rates reduced sales by more than 4%.
Year-to-date operating profit was $2,478 million in 2016 versus $983 million in 2015. Adjusted operating profit of $2,482 million in 2016 increased 2% compared to $2,431 million in 2015.
Kimberly-Clark Corporation is an American multinational personal care corporation that produces mostly paper-based consumer products. (Source: press release)