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Kimberly-Clark Corporation (KMB+1.04%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing reports net sales of $20.1 billion, a decrease of 1.8% from the previous year, primarily due to unfavorable currency impacts and divestitures. Organic sales increased by 3.2%, driven by higher pricing and volume gains.
Operating profit increased by 36.9% to $3.2 billion, benefiting from higher gross margins and a gain from the sale of the PPE business, offset by charges related to the 2024 Transformation Initiative.
Net income attributable to Kimberly-Clark Corporation rose by 44.3% to $2.5 billion, with diluted earnings per share increasing by 44.9% to $7.55.
The company announced the 2024 Transformation Initiative aimed at creating a more agile and focused operating structure, with expected total costs of approximately $1.5 billion pre-tax and anticipated savings of $3.0 billion.
Kimberly-Clark completed the sale of its personal protective equipment business for $635 million, resulting in a pre-tax gain of $566 million.
The company reported a gross margin increase of 140 basis points to 35.8%, primarily due to productivity savings and favorable pricing.
Kimberly-Clark's cash provided by operations was $3.2 billion, and it repurchased 7.2 million shares of common stock at a cost of $1.0 billion.
The company continues to focus on generating cash flow and allocating capital to shareholders, with a dividend increase of 3.4% in 2024.
Kimberly-Clark anticipates capital expenditures of $1.0 to $1.2 billion in 2025, including spending related to the 2024 Transformation Initiative.
The company reported a 19.3% effective tax rate, with a net benefit from items not reflective of ongoing operations.
Kimberly-Clark's reportable segments have been realigned to North America, International Personal Care, and International Family Care and Professional, reflecting changes in its internal operating and management structure.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Kimberly-Clark Corporation annual 10-K report dated February 13, 2025. To report an error, please email earnings@qz.com.