Kimberly Clark Corporation【KMB】株式ニュース

Kimberly-Clark Announces First Quarter 2026 Results, Reaffirms 2026 OutlookApril 28, 2026 6:30 AM
PR Newswire (US)

Delivers solid volume-plus-mix performance fueled by consumer-inspired innovation and strong in-market executionDALLAS, April 28, 2026 /PRNewswire/ -- Kimberly-Clark Corporation (Nasdaq: KMB) today reported first quarter 2026 results driven by resilient consumer demand for the company's brands, the introduction of pioneering innovative new products, and leveraging sustained, industry-leading productivity."Our first quarter results highlight the strength and resilience of the growth engine we've built through Powering Care," said Kimberly-Clark Chairman and CEO Mike Hsu. "We continued to deliver solid volume-plus-mix performance while building share momentum despite continued geopolitical and macroeconomic uncertainty. We accomplished this by driving consumer-inspired innovation, growing brand love, and executing exceptionally well as a team. Simultaneously, we continue to generate meaningful cost savings that reinforce our strong financial foundation and enable us to invest in our exciting future."Hsu continued, "With our core business gaining momentum and one of the strongest innovation and commercial activation lineups in our history set to launch in the second quarter, we're preparing Kimberly-Clark to unlock the unique, generational value creation opportunity ahead with the acquisition of Kenvue. We have industry-leading momentum thanks to our teams around the world, and we're excited to accelerate into our next chapter and build a company unlike any other in our industry today."Quarter HighlightsUnless otherwise noted, reported results in this release are based on continuing operations and exclude the International Family Care and Professional ("IFP") business, which is reported as discontinued operations.Delivered net sales of $4.2 billion, up 2.7 percent, with organic sales growth of 2.5 percent.Gross margin was 36.8 percent; adjusted gross margin was 37.9 percent, down 60 basis points versus the prior year.Operating profit for the quarter was $753 million, while adjusted operating profit was $732 million, up 3.7 percent versus the prior year driven by strong productivity savings, lower marketing, research and general expenses reflecting overhead savings, and favorable currency translation.Diluted earnings per share ("EPS") from continuing operations were $1.70; adjusted EPS from continuing operations were $1.60, down 1.2 percent versus the prior year.Diluted EPS attributable to Kimberly-Clark were $2.00; adjusted EPS attributable to Kimberly-Clark were $1.97, up 2.1 percent versus the prior year.First Quarter 2026 ResultsNet sales of $4.2 billion increased 2.7 percent, as organic sales growth of 2.5 percent and favorable currency impacts of 2.0 percent were partially offset by a 1.8 percent decline from the exit of the company's private label diaper business in the US. Organic sales growth was driven by volume-plus-mix growth of 3.0 percent, partially offset by lower pricing of 0.5 percent to drive trial of new products and enhance value propositions.Gross margin was 36.8 percent compared to 37.2 percent in the prior year, inclusive of $42 million, or 110 basis points, and $53 million, or approximately 130 basis points, respectively, of charges related to the 2024 Transformation Initiative. Excluding these charges, adjusted gross margin was 37.9 percent, a decrease of 60 basis points versus the prior year as strong productivity savings were more than offset by unfavorable pricing net of cost inflation, reflecting planned investments to drive new product trial and improve price:value tiers across the portfolio, and supply chain related investments.First quarter operating profit was $753 million compared to $631 million in the prior year. Current quarter results included a $120 million benefit related to the settlement of insurance claims from a previous acquisition, and $99 million of charges related to the 2024 Transformation Initiative and Kenvue acquisition. Prior year results included $75 million of charges related to the 2024 Transformation Initiative. Excluding these items, adjusted operating profit was $732 million compared to $706 million, an increase of 3.7 percent driven by strong productivity savings, lower marketing, research and general expenses, and favorable currency translation.Net interest expense was $53 million versus $57 million in the prior year primarily driven by lower interest expense.The first quarter effective tax rate was 23.9 percent, compared to 23.5 percent in the prior year. On an adjusted basis, the effective rate was 26.2 percent compared to 20.7 percent in the prior year, primarily reflecting discrete unfavorable factors in the current year compared to discrete tax benefits in the first quarter of 2025 related to the resolution of certain tax matters as well as a change in the US tax law effective July 2025.Net income of equity companies was $53 million compared to $44 million in the prior year driven primarily by favorable currency translation.Income from discontinued operations, net of income taxes was $101 million, inclusive of pre-tax separation costs of $32 million, compared to $103 million in the prior year. Adjusted income from discontinued operations was $125 million compared to $103 million in the prior year, an increase of 21.4 percent primarily driven by lower depreciation and amortization expense of approximately $30 million in the current year due to reporting requirements for discontinued operations.Diluted EPS from continuing operations were $1.70 compared to $1.39 in the prior year. These reported amounts are inclusive of a $0.10 net benefit and $0.23 of charges, respectively, for the certain items discussed above that management doesn't believe reflect our underlying and ongoing operations. Excluding these items, adjusted EPS from continuing operations were $1.60, a decline of 1.2 percent primarily due to the higher adjusted effective tax rate discussed above.Diluted EPS attributable to Kimberly-Clark in the quarter were $2.00 compared to $1.70 in the prior year. These reported amounts are inclusive of $0.03 of net benefit and $0.23 of charges, respectively, for certain items discussed above that management doesn't believe reflect our underlying and ongoing operations. Excluding these items, adjusted EPS attributable to Kimberly-Clark were $1.97, up 2.1 percent driven by higher adjusted operating profit and income from discontinued operations, partially offset by a higher adjusted effective tax rate.Business Segment Results
(Unaudited)Q1 change vs year ago (%)
Volume
Mix/Other
Net Price
Divestitures
and
Business
Exits(c)
Currency
Translation
Total(a)
Organic(b)Consolidated
2.6
0.4
(0.5)
(1.8)
2.0
2.7
2.5NA
1.9
(0.2)
—
(2.7)
0.3
(0.6)
1.8IPC
4.1
1.4
(1.5)
—
5.2
9.1
4.0

(a)Total may not sum across due to rounding.(b)Represents the change in net sales excluding the impacts of currency translation and divestitures and business exits.
Organic Sales Growth is a non-GAAP financial measure. See "Summary of Non-GAAP Financial Measures" below for
reconciliations of our GAAP to non-GAAP measures.(c)Impact of the exit of the Company's private label diaper business in the United States and other exited businesses and
markets in conjunction with the 2024 Transformation Initiative.North America ("NA")Net sales of $2.7 billion decreased 0.6 percent in the quarter, driven by a 2.7 percent impact from the exit of the company's private label diaper business in the US that was partially offset by solid, underlying organic net sales growth. Organic sales increased 1.8 percent primarily driven by broad-based volume growth reflecting the strength of innovations and activations in the quarter.Operating profit of $623 million decreased 8.1 percent driven by a 490 basis point headwind from business exits and higher advertising investments that were partially offset by strong productivity savings.International Personal Care ("IPC")Net sales of $1.5 billion increased 9.1 percent driven by organic sales growth of 4.0 percent and favorable currency impacts. Organic sales benefitted from strong volume-led growth of 4.1 percent and enhanced portfolio mix of 1.4 percent that reflected improvements in consumer value propositions across the portfolio, partially offset by price investments of 1.5 percent.Operating profit of $245 million increased 21.9 percent reflecting volume- and mix-led gains, strong productivity savings, favorable currency impacts, and lower overhead costs that were partially offset by investments in price:value tiers resulting in negative pricing net of cost inflation.Cash Flow and Balance SheetCash provided by operations (inclusive of discontinued operations) was $745 million compared to $327 million last year. Year-to-date capital spending was $424 million compared to $204 million last year. The company returned $418 million to shareholders through dividends. Total debt was $7.1 billion as of March 31, 2026, down from $7.2 billion as of December 31, 2025.2026 OutlookConsistent with the Company's long term growth algorithm, it continues to expect 2026 Organic Sales Growth to grow in line to ahead of the weighted average growth in the categories and countries it competes, which for the latest twelve months grew at approximately two-and-a-half percent. Reported Net Sales are forecast to reflect a negative impact of 50 basis points from the exit of the company's private label diaper business in the US and an approximately 50 basis points favorable impact from currency translation. Adjusted Operating Profit is expected to grow at a mid-to-high single-digit rate on a constant-currency basis. Adjusted Earnings Per Share from Continuing Operations are expected to grow at a double-digit rate on a constant-currency basis driven by an approximately 40 percent increase in income from equity companies versus 2025, expectations of flat net interest expense, an Adjusted Effective Tax Rate of approximately 23 percent, and average shares outstanding essentially unchanged versus 2025. Adjusted Earnings Per Share Attributable to Kimberly-Clark are expected to be flat on a constant-currency basis reflecting a reduction in Income from Discontinued Operations in line with the expected close of the IFP transaction in mid-2026, the proceeds from which will be held to fund, in part, the Kenvue acquisition. Earnings Per Share are expected to be favorably impacted by currency translation of approximately 170 basis points.This outlook reflects assumptions subject to change given the macro environment.Supplemental Materials and Live WebcastSupplemental materials will be available at approximately 6:30 a.m. Eastern Daylight Time in the Investor Relations section of the Kimberly-Clark website. The company will host a live Q&A session with investors and analysts on April 28, 2026, at 8:00 a.m. Eastern Daylight Time. The supplemental materials and Kimberly-Clark's Q&A session can be accessed at the Investor Relations section of the Kimberly-Clark website. A replay of the webcast will be available following the event through the same website.About Kimberly-ClarkKimberly-Clark (NASDAQ: KMB) and its trusted brands are an indispensable part of life for people in more than 175 countries and territories. Our portfolio of brands, including Huggies, Kleenex, Scott, Kotex, Cottonelle, Poise, Depend, Andrex, Pull-Ups, Goodnites, Intimus, Plenitud, Sweety, Softex, Viva and WypAll, hold No. 1 or No. 2 share positions in approximately 70 countries. Our company's purpose is to deliver Better Care for a Better World. We are committed to using sustainable practices designed to support a healthy planet, build strong communities, and enable our business to thrive for decades to come. To keep up with the latest news and learn more about the company's more than 150-year history of innovation, visit the Kimberly-Clark website.Copies of Kimberly-Clark's Annual Report to Stockholders and its proxy statements and other SEC filings, including Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, are made available free of charge on the company's website on the same day they are filed with the SEC. To view these filings, visit the Investors section of the company's website.Forward Looking StatementsCertain matters contained in this press release concerning our plans and expectations regarding the pending mergers with Kenvue and the pending International Family Care and Professional ("IFP") joint venture transaction with Suzano ("IFP Transaction"), the business outlook, including raw material, energy and other input costs, the anticipated charges and savings from the 2024 Transformation Initiative, cash flow and uses of cash, growth initiatives, innovations, marketing and other spending, net sales, anticipated currency rates and exchange risks, including the impact in Argentina and Türkiye, effective tax rate, contingencies and anticipated transactions of Kimberly-Clark, including dividends, share repurchases and pension contributions, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and are based upon management's expectations and beliefs concerning future events impacting Kimberly-Clark. There can be no assurance that these future events will occur as anticipated or that our results will be as estimated. Forward-looking statements speak only as of the date they were made, and we undertake no obligation to publicly update them.The assumptions used as a basis for the forward-looking statements include many estimates that, among other things, depend on the successful completion of the mergers with Kenvue and the achievement of future cost savings and projected volume increases. In addition, many factors outside our control, including risks and uncertainties around the pending mergers with Kenvue (including the risk that the anticipated benefits and synergies of the mergers may not be realized when expected or at all, the terms and scope of the expected financing in connection with the mergers may prove to be less favorable than currently expected, that the mergers may not be completed in a timely manner or at all and the risk of litigation related to the mergers), the pending IFP Transaction (including risks related to delays or failure to complete the proposed transaction, the incurrence of significant transaction and separation costs, adverse market reactions, regulatory or legal challenges, and operational disruptions), risks that we are not able to realize the anticipated benefits of the 2024 Transformation Initiative (including risks related to disruptions to our business or operations or related to any delays in implementation), war in Ukraine (including the related responses of consumers, customers, and suppliers and sanctions issued by the U.S., the European Union, Russia or other countries), government trade or similar regulatory actions (including current and potential trade and tariff actions affecting the countries where we operate and the resulting negative impacts on our supply chain, commodity costs, and consumer spending), pandemics, epidemics, fluctuations in foreign currency exchange rates, the prices and availability of our raw materials, supply chain disruptions, disruptions in the capital and credit markets, counterparty defaults (including customers, suppliers and financial institutions with which we do business), failure to realize the expected benefits or synergies from our acquisition and disposition activity, impairment of goodwill and intangible assets and our projections of operating results and other factors that may affect our impairment testing, changes in customer preferences, severe weather conditions, regional instabilities and hostilities (including the war in Iran), potential competitive pressures on selling prices for our products, energy costs, general economic and political conditions globally and in the markets in which we do business, as well as our ability to maintain key customer relationships, could affect the realization of these estimates.The factors described under Item 1A, "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2025, or in our other SEC filings, among others, could cause our future results to differ from those expressed in any forward-looking statements made by us or on our behalf. Other factors not presently known to us or that we presently consider immaterial could also affect our business operations and financial results. KIMBERLY-CLARK CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF INCOME(Millions, except per share amounts)(Unaudited)

Three Months Ended March 31

2026
2025
ChangeNet Sales
$           4,163
$           4,054
2.7 %Cost of products sold
2,629
2,545
3.3 %Gross Profit
1,534
1,509
1.7 %Marketing, research and general expenses
920
855
7.6 %Other (income) and expense, net
(139)
23
N.M.Operating Profit
753
631
19.3 %Nonoperating expense
(15)
(17)
(11.8 %)Interest income
5
7
(28.6 %)Interest expense
(58)
(64)
(9.4 %)Income from Continuing Operations Before Income Taxes and Equity Interests
685
557
23.0 %Provision for income taxes
(164)
(131)
25.2 %Income from Continuing Operations Before Equity Interests
521
426
22.3 %Share of net income of equity companies
53
44
20.5 %Income from Continuing Operations
574
470
22.1 %Income from Discontinued Operations, Net of Income Taxes
101
103
(1.9 %)Net Income
675
573
17.8 %Net income attributable to noncontrolling interests
(10)
(6)
66.7 %Net Income Attributable to Kimberly-Clark Corporation
$             665
$             567
17.3 %

Per Share Basis

Net Income Attributable to Kimberly-Clark Corporation

Basic:

Continuing operations
$            1.70
$            1.40
21.4 %Discontinued operations
0.30
0.31
(3.2 %)Basic Earnings per Share
$            2.00
$            1.71
17.0 %

Diluted:

Continuing operations
$            1.70
$            1.39
22.3 %Discontinued operations
0.30
0.31
(3.2 %)Diluted Earnings per Share
$            2.00
$            1.70
17.6 %

Cash Dividends Declared
$            1.28
$            1.26
1.6 %

Common Shares Outstanding
March 31

2026
2025

Outstanding shares as of
331.9
331.9

Average diluted shares for three months ended
333.2
333.3

N.M. - Not Meaningful KIMBERLY-CLARK CORPORATIONCONDENSED CONSOLIDATED BALANCE SHEETS(Millions)(Unaudited)

March 31, 2026
December 31, 2025ASSETS

Current Assets

Cash and cash equivalents
$                 542
$                 688Accounts receivable, net
2,001
1,892Inventories
1,479
1,475Other current assets
547
535Current assets of discontinued operations
722
720Total Current Assets
5,291
5,310Property, Plant and Equipment, Net
6,833
6,775Investments in Equity Companies
383
330Goodwill
1,840
1,839Other Intangible Assets, Net
76
77Other Assets
1,058
1,062Non-current Assets of Discontinued Operations
1,703
1,705TOTAL ASSETS
$             17,184
$             17,098

LIABILITIES AND STOCKHOLDERS' EQUITY

Current Liabilities

Debt payable within one year
$                 609
$                 694Trade accounts payable
3,245
3,388Accrued expenses and other current liabilities
1,903
1,888Dividends payable
422
415Current liabilities of discontinued operations
724
740Total Current Liabilities
6,903
7,125Long-Term Debt
6,475
6,474Non-current Employee Benefits
598
605Deferred Income Taxes
500
445Other Liabilities
623
646Non-current Liabilities of Discontinued Operations
149
151Redeemable Preferred Securities of Subsidiaries
22
22Stockholders' Equity

Kimberly-Clark Corporation
1,796
1,502Noncontrolling Interests
118
128Total Stockholders' Equity
1,914
1,630TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
$             17,184
$             17,098 KIMBERLY-CLARK CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Millions)(Unaudited)

Three Months Ended March 31

2026
2025Operating Activities

Net income
$           675
$           573Depreciation and amortization
193
218Stock-based compensation
23
32Deferred income taxes
36
7Net (gains) losses on asset and business dispositions
(19)
10Equity companies' earnings (in excess of) less than dividends paid
(53)
(39)Operating working capital
(116)
(476)Postretirement benefits
(3)
3Other
9
(1)Cash Provided by Operations
745
327Investing Activities

Capital spending
(424)
(204)Proceeds from asset and business dispositions
27
—Investments in time deposits
(50)
(99)Maturities of time deposits
83
186Other
9
(2)Cash Used for Investing
(355)
(119)Financing Activities

Cash dividends paid
(418)
(405)Change in short-term debt
313
45Debt repayments
(400)
(250)Proceeds from exercise of stock options
—
30Repurchases of common stock
—
(61)Cash dividends paid to noncontrolling interests
(15)
(18)Other
(7)
(24)Cash Used for Financing
(527)
(683)Effect of Exchange Rate Changes on Cash and Cash Equivalents
(5)
17Change in Cash and Cash Equivalents
(142)
(458)

Cash and cash equivalents from continuing operations - beginning of period
688
1,010Cash and cash equivalents from discontinued operations - beginning of period(a)
13
11Cash and Cash Equivalents - Beginning of Period
701
1,021

Cash and cash equivalents from continuing operations - end of period
542
551Cash and cash equivalents from discontinued operations - end of period(a)
17
12Cash and Cash Equivalents - End of Period
$           559
$           563
(a)  Included in Current assets of discontinued operations. KIMBERLY-CLARK CORPORATIONBUSINESS SEGMENT RESULTS(Millions)(Unaudited)

Three Months Ended March 31

2026
2025
ChangeNet Sales

NA
$           2,651
$           2,668
(0.6 %)IPC
1,512
1,386
9.1 %Total Net Sales
$           4,163
$           4,054
2.7 %

Operating Profit

NA
$             623
$             678
(8.1 %)IPC
245
201
21.9 %Segment Operating Profit(a)
868
879
(1.3 %)Corporate & Other(b)
(115)
(248)
(53.6 %)Total Operating Profit
$             753
$             631
19.3 %

(a)Segment Operating Profit is a non-GAAP financial measure as it excludes certain
results included within Corporate & Other, as discussed below. Refer to "Summary
of Non-GAAP Financial Measures" below for further discussion of how we utilize
non-GAAP financial measures. As shown above, we have included a reconciliation
to Total Operating Profit, as determined in accordance with GAAP.(b)Corporate & Other includes income and expense not associated with the ongoing
operations of the segments, including certain operations of the former IFP
segment that were divested prior to the IFP Transaction and costs previously
allocated to the former IFP segment that aren't reported as discontinued operations. SUMMARY OF NON-GAAP FINANCIAL MEASURESThe following provides the reconciliation of the non-GAAP financial measures provided in this press release to the most closely related GAAP measure. These measures include: Organic Sales Growth, Adjusted Gross Profit, Adjusted Operating Profit, Adjusted Earnings per Share from Continuing Operations, Adjusted Earnings per Share Attributable to Kimberly-Clark, Adjusted Effective Tax Rate, and Adjusted Income from Discontinued Operations. Unless specifically stated, all discussions regarding non-GAAP financial measures reflect results from our continuing operations for all periods presented.Organic Sales Growth is defined as the change in Net Sales, as determined in accordance with U.S. GAAP, excluding the impacts of currency translation and divestitures and business exits.Adjusted Gross and Operating Profit, Adjusted Earnings per Share from Continuing Operations, Adjusted Earnings per Share Attributable to Kimberly-Clark, Adjusted Effective Tax Rate, and Adjusted Income from Discontinued Operations are defined as Gross Profit, Operating Profit, Diluted Earnings per Share from Continuing Operations, Diluted Earnings per Share Attributable to Kimberly-Clark, Effective Tax Rate, and Income from Discontinued Operations, Net of Income Taxes, respectively, as determined in accordance with U.S. GAAP, excluding the impacts of certain items that management believes do not reflect our underlying operations, and which are discussed in further detail below.The income tax effect of these non-GAAP items on the Company's Adjusted Earnings per Share from Continuing Operations, Adjusted Earnings per Share Attributable to Kimberly-Clark and Adjusted Income from Discontinued Operations is calculated based upon the tax laws and statutory income tax rates applicable in the tax jurisdiction(s) of the underlying non-GAAP adjustment. The impact of these non-GAAP items on the Company's effective tax rate represents the difference in the effective tax rate calculated with and without the non-GAAP adjustment on pre-tax income and provision for income taxes.We use these non-GAAP financial measures to assist in comparing our performance on a consistent basis for purposes of business decision making by removing the impact of certain items that we do not believe reflect our underlying and ongoing operations. We believe that presenting these non-GAAP financial measures is useful to investors because it (i) provides investors with meaningful supplemental information regarding financial performance by excluding certain items, (ii) permits investors to view performance using the same tools that management uses to budget, make operating and strategic decisions, and evaluate historical performance, and (iii) otherwise provides supplemental information that may be useful to investors in evaluating our results. We believe that the presentation of these non-GAAP financial measures, when considered together with the corresponding U.S. GAAP financial measures and the reconciliation to those measures, provides investors with additional understanding of the factors and trends affecting our business than could be obtained absent these disclosures.These non-GAAP financial measures are not meant to be considered in isolation or as a substitute for the comparable GAAP measures, and they should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. There are limitations to these non-GAAP financial measures because they are not prepared in accordance with GAAP and may not be comparable to similarly titled measures of other companies due to potential differences in methods of calculation and items being excluded. We compensate for these limitations by using these non-GAAP financial measures as a supplement to the GAAP measures and by providing reconciliations of the non-GAAP and comparable GAAP financial measures. Certain non-GAAP financial measures referenced in this press release are presented on a forward-looking basis. Kimberly-Clark does not provide a reconciliation of these forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measures on a forward-looking basis because it is unable to predict certain adjustment items without unreasonable effort. Please note that these items could be material to Kimberly-Clark's results calculated in accordance with GAAP.The non-GAAP financial measures exclude the following items for the relevant time periods:2024 Transformation Initiative - We initiated this transformation to create a more agile and focused operating structure that will accelerate our proprietary pipeline of innovation in right-to-win spaces and improve our growth trajectory, profitability, and returns on investment.Kenvue Acquisition - Acquisition-related costs incurred in connection with the pending Kenvue Acquisition, primarily related to external advisory, legal, accounting, and other related costs.Insurance Recovery – Settlement of insurance claims related to a previous acquisition.IFP Separation Costs - Costs incurred in connection with the IFP Transaction related to external advisory, legal, accounting, contractor and other incremental costs, and are reported in discontinued operations.The following table provides a reconciliation of Organic Sales Growth from continuing operations:

Three Months Ended March 31, 2026

Percent change vs. the prior year period

NA
IPC
TotalNet Sales Growth
(0.6)
9.1
2.7Currency Translation
(0.3)
(5.2)
(2.0)Divestitures and Business Exits
2.7
—
1.8Organic Sales Growth(a)
1.8
4.0
2.5
(a)  Table may not foot due to rounding.The following table provides a reconciliation of Adjusted Gross Profit from continuing operations:

Three Months Ended March 31

2026
2025Gross Profit
$         1,534
$         1,5092024 Transformation Initiative
42
53Adjusted Gross Profit
$         1,576
$         1,562The following table provides a reconciliation of Adjusted Operating Profit from continuing operations:

Three Months Ended March 31

2026
2025Operating Profit
$            753
$            6312024 Transformation Initiative
51
75Kenvue Acquisition
48
—Insurance Recovery
(120)
—Adjusted Operating Profit
$            732
$            706The following table provides a reconciliation of Adjusted Earnings per Share from Continuing Operations:

Three Months Ended March 31

2026
2025Diluted Earnings per Share from Continuing Operations
$           1.70
$           1.392024 Transformation Initiative
0.09
0.23Kenvue Acquisition
0.13
—Insurance Recovery
(0.32)
—Adjusted Earnings per Share from Continuing Operations(a)
$           1.60
$           1.62

(a)The non-GAAP adjustments included above are presented net of tax. The income tax effect of
these non-GAAP items is calculated based upon the tax laws and statutory income tax rates
applicable in the tax jurisdiction(s) of the underlying non-GAAP adjustment. Refer to the Adjusted
Effective Tax Rate reconciliation below for the tax effect of these adjustments on the Company's
reported provision for income taxes.The following table provides a reconciliation of Adjusted Earnings per Share Attributable to Kimberly-Clark:

Three Months Ended March 31

2026
2025Diluted Earnings per Share Attributable to Kimberly-Clark
$           2.00
$           1.702024 Transformation Initiative
0.09
0.23Kenvue Acquisition
0.13
—Insurance Recovery
(0.32)
—IFP Separation Costs
0.07
—Adjusted Earnings per Share Attributable to Kimberly-Clark
$           1.97
$           1.93The following table provides a reconciliation of the continuing operations Adjusted Effective Tax Rate:

Three Months Ended March 31

2026
2025

Income from
Continuing
Operations
Before Income
Taxes and
Equity Interests
Provision for
Income Taxes
Income from
Continuing
Operations
Before Income
Taxes and
Equity Interests
Provision for
Income TaxesAs Reported
$            685
$        (164)
$            557
$        (131)2024 Transformation Initiative
51
(19)
77
—Kenvue Acquisition
48
(5)
—
—Insurance Recovery
(120)
14
—
—As Adjusted
$            664
$        (174)
$            634
$        (131)

Effective Tax Rate

As Reported

23.9 %

23.5 %As Adjusted

26.2 %

20.7 %The following table provides a reconciliation of Adjusted Income from Discontinued Operations:

Three Months Ended March 31

2026
2025Income from Discontinued Operations, Net of Income Taxes
$            101
$            103IFP Separation Costs
32
—Tax Effect(a)
(8)
—Adjusted Income from Discontinued Operations
$            125
$            103

(a)The income tax effect of this non-GAAP item is calculated based upon the tax laws and statutory
income tax rates applicable in the tax jurisdiction(s) of the non-GAAP adjustment. [KMB-F]Logo - https://mma.prnewswire.com/media/648588/Kimberly_Clark_v1_Logo.jpg

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Original: Kimberly-Clark Announces First Quarter 2026 Results, Reaffirms 2026 Outlook

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OTC Markets Financials ~ http://www.otcmarkets.com/stock/KMB/financials
OTC Markets Short Sales ~ http://www.otcmarkets.com/stock/KMB/short-sales
OTC Markets Insider Disclosure ~ http://www.otcmarkets.com/stock/KMB/insider-transactions
OTC Markets Research Reports ~ http://www.otcmarkets.com/stock/KMB/research

Google Finance Summary ~ http://www.google.com/finance?q=KMB
Google Finance News ~ http://www.google.com/finance/company_news?q=KMB
Google Finance Option chain ~ http://www.google.com/finance/option_chain?q=KMB
Google Finance Financials ~ http://www.google.com/finance?q=KMB&fstype=ii#
Google Finance Historical prices Daily ~ http://www.google.com/finance/historical?q=KMB
Google Finance Historical prices Weekly ~ http://www.google.com/finance/historical?q=KMB&histperiod=weekly#

Y! < Company >
Y! Profile ~ http://finance.yahoo.com/q/pr?s=KMB+Profile
Y! Key Stat's ~ http://finance.yahoo.com/q/ks?s=KMB+Key+Statistics
Y! Headlines ~ http://finance.yahoo.com/q/h?s=KMB+Headlines
Y! Summary ~ http://finance.yahoo.com/q?s=KMB
Y! Historical Prices ~ http://finance.yahoo.com/q/hp?s=KMB+Historical+Prices
Y! Order Book ~ http://finance.yahoo.com/q/ecn?s=KMB+Order+Book
Y! Message Boards ~ http://messages.finance.yahoo.com/mb/KMB
Y! Market Pulse ~ http://finance.yahoo.com/marketpulse/KMB
Y! Technical Analysis ~ http://finance.yahoo.com/q/ta?s=KMB+Basic+Tech.+Analysis
Y! < Analyst Coverage >
Y! Analyst Opinion ~ http://finance.yahoo.com/q/ao?s=KMB+Analyst+Opinion
Y! Analyst Estimates ~ http://finance.yahoo.com/q/ae?s=KMB+Analyst+Estimates
Y! Research Reports ~ http://finance.yahoo.com/q/rr?s=KMB+Research+Reports
Y! Star Analysts ~ http://finance.yahoo.com/q/sa?s=KMB+Star+Analysts
Y! < Ownership >
Y! Major Holders ~ http://finance.yahoo.com/q/mh?s=KMB+Major+Holders
Y! Insider Transactions ~ http://finance.yahoo.com/q/it?s=KMB+Insider+Transactions
Y! Insider Roster ~ http://finance.yahoo.com/q/ir?s=KMB+Insider+Roster
Y! < Financials >
Y! Income Statement ~ http://finance.yahoo.com/q/is?s=KMB+Income+Statement&annual
Y! Balance Sheet ~ http://finance.yahoo.com/q/bs?s=KMB+Balance+Sheet&annual
Y! Cash Flow ~ http://finance.yahoo.com/q/cf?s=KMB+Cash+Flow&annual

FINVIZ ~ http://finviz.com/quote.ashx?t=KMB&ty=c&ta=0&p=d

Investorshub Trades ~ http://ih.advfn.com/p.php?pid=trades&symbol=KMB
Investorshub Board Search ~ http://investorshub.advfn.com/boards/getboards.aspx?searchstr=KMB
Investorshub PostStream ~ http://investorshub.advfn.com/boards/poststream.aspx?ticker=KMB
Investorshub Messages ~ http://investorshub.advfn.com/boards/msgsearch.aspx?SearchStr=KMB
Investorshub Videos ~ http://ih.advfn.com/p.php?pid=ihvse&ihvqu=KMB
Investorshub News ~ http://ih.advfn.com/p.php?pid=news&btn=s_ok&ctl00%24sb3%24tbq1=Get+Quote&as_values_IH=&ctl00%24sb3%24stb1=Search+iHub&symbol=KMB&s_ok=OK&from_month=3&from_day=15&from_year=2012&order=desc&selsrc%5B%5D=prnca&selsrc%5B%5D=prnus&selsrc%5B%5D=zacks&selsrc%5B%5D=money2&selsrc%5B%5D=djn&selsrc%5B%5D=bw&selsrc%5B%5D=globe&selsrc%5B%5D=edgar&selsrc%5B%5D=mwus&force=1&last_ts=1331855999&p_n=1&p_count=&p_ts=1331794260

CandlestickChart ~ http://www.candlestickchart.com/cgi/chart.cgi?symbol=KMB&exchange=US

Barchart Quote ~ http://barchart.com/quotes/stocks/KMB?
Barchart Detailed Quote ~ http://barchart.com/detailedquote/stocks/KMB
Barchart Options Quotes ~ http://barchart.com/options/stocks/KMB
Barchart Technical Chart ~ http://barchart.com/charts/stocks/KMB&style=technical
Barchart Interactive Chart ~ http://barchart.com/charts/stocks/KMB&style=interactive
Barchart Technical Analysis ~ http://barchart.com/technicals/stocks/KMB
Barchart Trader's Cheat Sheet ~ http://barchart.com/cheatsheet.php?sym=KMB
Barchart Barchart Opinion ~ http://barchart.com/opinions/stocks/KMB
Barchart Snapshot Opinion ~ http://barchart.com/snapopinion/stocks/KMB
Barchart News Headlines ~ http://barchart.com/news/stocks/KMB
Barchart Profile ~ http://barchart.com/profile//KMB
Barchart Key Statistics ~ http://barchart.com/profile.php?sym=KMB&view=key_statistics

OTC: American Bulls ~ http://www.americanbulls.com/StockPage.asp?CompanyTicker=KMB&MarketTicker=OTC&TYP=S
NASDAQ: American Bulls ~ http://www.americanbulls.com/StockPage.asp?CompanyTicker=KMB&MarketTicker=NASD&TYP=S
NYSE: American Bulls ~ http://www.americanbulls.com/StockPage.asp?CompanyTicker=KMB&MarketTicker=NYSE&Typ=S

Marketwatch Profile ~ http://www.marketwatch.com/investing/stock/KMB/profile
Marketwatch Analyst Estimates ~ http://www.marketwatch.com/investing/stock/KMB/analystestimates
Marketwatch Historical Quotes ~ http://www.marketwatch.com/investing/stock/KMB/historical
Marketwatch Financials ~ http://www.marketwatch.com/investing/stock/KMB/financials
Marketwatch Overview ~ http://www.marketwatch.com/investing/stock/KMB
Marketwatch SEC Filings ~ http://www.marketwatch.com/investing/stock/KMB/secfilings
Marketwatch Picks ~ http://www.marketwatch.com/investing/stock/KMB/picks
Marketwatch Hulbert ~ http://www.marketwatch.com/investing/stock/KMB/hulbert
Marketwatch Insider Actions ~ http://www.marketwatch.com/investing/stock/KMB/insideractions
Marketwatch Options ~ http://www.marketwatch.com/investing/stock/KMB/options
Marketwatch Charts ~ http://www.marketwatch.com/investing/stock/KMB/charts
Marketwatch News ~ http://bigcharts.marketwatch.com/news/symbolsearch/symbolnews.asp?news=markadv&symb=KMB&sid=1795093&framed=False

The Lion ~ http://thelion.com/bin/aio_msg.cgi?cmd=search&msg=&si=1&tw=1&tt=1&rb=1&ih=1&fo=1&iv=1&yf=1&sa=1&fb=1&gg=1&symbol=KMB

Search NYSE ~ http://www.nyse.com/about/listed/lcddata.html?ticker=KMB

StockTA ~ http://www.stockta.com/cgi-bin/analysis.pl?symb=KMB&num1=567&cobrand=&mode=stock

StockHouse ~ http://www.stockhouse.com/financialtools/sn_overview.aspx?qm_symbol=KMB
StockHouse Delayed LII ~ http://www.stockhouse.com/financialtools/sn_level2.aspx?qm_page=46140&qm_symbol=KMB

AlphaTrade ~ http://tools.alphatrade.com/index.php?t1=mc_quote_module&t2=mc_quote_module2&t3=historical&template=historical2html&sym=KMB&client_id=2740&a_width=680&a_height=1000&language=english&showVol=1&chtype=8

Reuters ~ http://www.reuters.com/finance/stocks/companyOfficers?symbol=KMB.PK&WTmodLOC=C4-Officers-5

StockWatch ~ http://www.stockwatch.com/Quote/Detail.aspx?symbol=KMB®ion=U

Search NASDAQ ~ http://www.nasdaq.com/symbol/KMB
NASDAQ Divy History ~ http://www.nasdaq.com/symbol/KMB/dividend-history
NASDAQ Short Interest ~ http://www.nasdaq.com/symbol/KMB/short-interest
NASDAQ Institutional Ownership ~ http://www.nasdaq.com/symbol/KMB/institutional-holdings
NASDAQ FlashQuotes ~ http://www.nasdaq.com/aspx/flashquotes.aspx?symbol=KMB&selected=KMB
NASDAQ InfoQuotes ~ http://www.nasdaq.com/aspx/infoquotes.aspx?symbol=KMB&selected=KMB
NASDAQ After Hours Quote ~ http://www.nasdaq.com/symbol/KMB/after-hours
NASDAQ Pre-Market Quote ~ http://www.nasdaq.com/symbol/KMB/premarket
NASDAQ Historical Quote ~ http://www.nasdaq.com/symbol/KMB/historical
NASDAQ Option Chain ~ http://www.nasdaq.com/symbol/KMB/option-chain
NASDAQ Company Headlines ~ http://www.nasdaq.com/symbol/KMB/news-headlines
NASDAQ Press Releases ~ http://www.nasdaq.com/symbol/KMB/news-headlines
NASDAQ Sentiment ~ http://www.nasdaq.com/symbol/KMB/sentiment
NASDAQ Analyst Summary ~ http://www.nasdaq.com/symbol/KMB/analyst-research
NASDAQ Guru Analysis~ http://www.nasdaq.com/symbol/KMB/guru-analysis
NASDAQ Stock Report ~ http://www.nasdaq.com/symbol/KMB/stock-report
NASDAQ Competitors ~ http://www.nasdaq.com/symbol/KMB/competitors
NASDAQ Stock Consultant ~ http://www.nasdaq.com/symbol/KMB/stock-consultant
NASDAQ Stock Comparison ~ http://www.nasdaq.com/symbol/KMB/stock-comparison
NASDAQ Call Transcripts ~ http://www.nasdaq.com/symbol/KMB/call-transcripts
NASDAQ Annual Reports ~ http://www.nasdaq.com/aspx/annualreport.aspx?symbol=KMB&selected=KMB
NASDAQ Financials ~ http://www.nasdaq.com/symbol/KMB/financials
NASDAQ Revenue & Earnings Per Share (EPS) ~ http://www.nasdaq.com/symbol/KMB/revenue-eps
NASDAQ SEC Filings ~ http://www.nasdaq.com/symbol/KMB/sec-filings
NASDAQ Ownership Summary ~ http://www.nasdaq.com/symbol/KMB/ownership-summary
NASDAQ Institutional Ownership ~ http://www.nasdaq.com/symbol/KMB/institutional-holdings
NASDAQ (SEC Form 4) ~
--------- All Trades ~ http://www.nasdaq.com/symbol/KMB/insider-trades
--------- Buys ~ http://www.nasdaq.com/symbol/KMB/insider-trades/buys
--------- Sells ~ http://www.nasdaq.com/symbol/KMB/insider-trades/sells

The Motley Fool ~ http://caps.fool.com/Ticker/KMB.aspx
The Motley Fool Earnings/Growth ~ http://caps.fool.com/Ticker/KMB/EarningsGrowthRates.aspx?source=itxsittst0000001
The Motley Fool Ratios ~ http://caps.fool.com/Ticker/KMB/Ratios.aspx?source=itxsittst0000001
The Motley Fool Stats ~ http://caps.fool.com/Ticker/KMB/Stats.aspx?source=icasittab0000006
The Motley Fool Historical ~ http://caps.fool.com/Ticker/KMB/Historical.aspx?source=icasittab0000004
The Motley Fool Scorecard ~ http://caps.fool.com/Ticker/KMB/Scorecard.aspx?source=icasittab0000003
The Motley Fool Statements ~ http://caps.fool.com/Ticker/KMB/Statements.aspx?source=icasittab0000009

MSN Money ~ http://investing.money.msn.com/investments/stock-ratings?symbol=KMB

YCharts ~ http://ycharts.com/companies/KMB
YCharts Performance ~ http://ycharts.com/companies/KMB/performance
YCharts Dashboard ~ http://ycharts.com/companies/KMB/dashboard

InsideStocks Opinion ~ http://www.insidestocks.com/texpert.asp?sym=KMB&code=XDAILY
InsideStocks Profile ~ http://www.insidestocks.com/profile.asp?sym=KMB&code=XDAILY
InsideStocks Quote ~ http://www.insidestocks.com/quote.asp?sym=KMB&code=XDAILY
InsideStocks Projection ~ http://charts3.barchart.com/procal.asp?sym=KMB

Zacks Quote ~ http://www.zacks.com/stock/quote/KMB
Zacks Estimates ~ http://www.zacks.com/research/report.php?type=estimates&t=KMB
Zacks Company Reports ~ http://www.zacks.com/research/report.php?type=report&t=KMB

Knobias ~ http://knobias.10kwizard.com/files.php?sym=KMB

StockScores ~ http://www.stockscores.com/quickreport.asp?ticker=KMB

Trade-Ideas ~ http://www.trade-ideas.com/StockInfo/KMB/HOT_TOPIC.html

Morningstar ~ http://performance.morningstar.com/stock/performance-return.action?region=USA&t=KMB&culture=en-US
Morningstar Shareholders ~ http://investors.morningstar.com/ownership/shareholders-overview.html?t=KMB®ion=USA&culture=en-us
Morningstar Transcripts~ http://www.morningstar.com/earnings/NoTranscript.aspx?t=KMB®ion=USA
Morningstar Key Ratios ~ http://financials.morningstar.com/ratios/r.html?t=KMB®ion=USA&culture=en-US
Morningstar Executive Compensation ~ http://insiders.morningstar.com/trading/executive-compensation.action?t=KMB®ion=USA&culture=en-us
Morningstar Valuation ~ http://financials.morningstar.com/valuation/price-ratio.html?t=KMB®ion=USA&culture=en-us

CCBN (Thompson Reuters) ~ http://ccbn.aol.com/company.asp?client=aol&ticker=KMB

TradingMarkets ~ http://pr.tradingmarkets.com/?lid=leftPRbox&sym=KMB

OTCBB ~ http://www.otcbb.com/asp/SiteSearch.asp?Criteria=KMB&searcharea=e&image1.x=0&image1.y=0

Insidercow ~ http://www.insidercow.com/history/company.jsp?company=KMB&B1=Search%21

Forbes News ~ http://search.forbes.com/search/find?tab=searchtabgeneraldark&MT=KMB
Forbes Press Releases ~ http://search.forbes.com/search/find?&start=1&tab=searchtabgeneraldark&MT=KMB&pub=businesswire,prnewswire&searchResults=pressRelease&tag=pr&premium=on
Forbes Web ~ http://search.forbes.com/search/web?MT=UNGS&start=1&max=10&searchResults=web&tag=web&sort=null

YouTube Symbol Search ~ http://www.youtube.com/results?search_query=KMB

Buy-Ins ~ http://www.buyins.net/tools/symbol_stats.php?sym=KMB

Quotemedia ~ http://www.quotemedia.com/results.php?qm_page=47556&qm_symbol=KMB

Earnings Whispers ~ http://www.earningswhispers.com/stocks.asp?symbol=KMB

Bloomberg Snapshot ~ http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=KMB
Bloomberg People ~ http://investing.businessweek.com/research/stocks/people/people.asp?ticker=KMB

Financial Times ~ http://markets.ft.com/Research/Markets/Tearsheets/Summary?s=KMB

Investorpoint ~ http://www.investorpoint.com/ enter "KMB" and click search.

Hotstocked ~ http://www.hotstocked.com/ enter "KMB" and click search.

Raging Bull ~ http://ragingbull.quote.com/mboard/boards.cgi?board=KMB

Hoovers ~ http://www.hoovers.com/search/company-search-results/100003765-1.html?type=company&term=KMB

DD Machine ~ http://www.ddmachine.com/default.asp?m=stocktool_frame.asp?symbol=KMB

SEC Form 4 ~ http://www.secform4.com/insider/showhistory.php?cik=KMB

OTCBB Pulse ~ http://www.otcbbpulse.com/cgi-bin/pulsequote.cgi?symbol=KMB

Failures To Deliver ~ http://failurestodeliver.com/default2.aspx enter "KMB" and click search.

http://www.coordinatedlegal.com/SecretaryOfState.html

http://regsho.finra.org/regsho-Index.html

http://www.shortsqueeze.com/?symbol=KMB&submit=Short+Quote%99

DTCC (PENSON/TDA) Check - (otc and pinks) - Note ~ I did not check for this chart blast. However, I try and help you to do so with the following links.
IHUB DTCC BOARD SEARCH #1 http://investorshub.advfn.com/boards/msgsearchbyboard.aspx?boardID=18682&srchyr=2011&SearchStr=KMB
IHUB DTCC BOARD SEARCH #2: http://investorshub.advfn.com/boards/msgsearchbyboard.aspx?boardID=14482&srchyr=2011&SearchStr=KMB
Check those searches for recent KMB mentions. If KMB is showing up on older posts and not on new posts found in link below, The DTCC issues may have been addressed and fixed. Always call the broker if your security turns up on any DTCC/PENSON list.
http://investorshub.advfn.com/boards/msgsearchbyboard.aspx?boardID=18682&srchyr=2011&SearchStr=Complete+list
For a complete list see the pinned threads at the top here ---> http://tinyurl.com/TWO-OLD-FARTS

MACDlinks