Kimberly-Clark raises 2024 outlook

Based on its first quarter results, the company has updated its 2024 outlook, with all factors compared to 2023, as follows: Organic Net Sales is now expected to grow mid-single digits versus the company’s previous expectation of low-to mid-single-digit growth. The company now expects Reported Net Sales to be negatively impacted by 400 basis points of currency translation and 120 basis points from divestitures compared to its previous assumption of 300 basis points and 60 basis points, respectively. Adjusted Operating Profit is now expected to grow at a low-teens percentage rate on a constant-currency basis. This is up from previous expectations for high-single-digit to low-double-digit Adjusted Operating Profit growth on a constant currency basis. Adjusted Earnings Per Share is now expected to grow at a low-teens percentage rate on a constant-currency basis, an increase from previous expectations of high-single-digit growth. Reported Operating Profit and Reported Earnings Per Share are currently expected to be negatively impacted by approximately 700 basis points from currency translation, compared to the company’s previous assumptions for a 400 basis-point headwind.