Kimberly-Clark’s second quarter sales of $5 billion were 2% lower than the prior-year period, including negative impacts of approximately 5% from foreign currency translation and approximately 1% from the divestiture of the Tissue and K-C Professional (KCP) business in Brazil in June 2023. Organic sales increased 4%, driven by a 2% increase in price and a 2% increase through a combination of volume and mix. Price-led gains reflected necessary pricing actions to address higher local costs in hyperinflationary economies, mainly in Argentina. Volume and mix were positive across North America, Developing and Emerging (D&E) markets, as well as Developed Markets (representing Australia, South Korea and Western/Central Europe).

In North America, organic sales increased 1% versus the prior year, driven by 5% growth in Personal Care, partially offset by a decline of 4% in K-C Professional and 2% in Consumer Tissue.

In D&E markets, organic sales rose 12% reflecting both pricing gains as well as volume and mix gains. Organic sales for Developed Markets were 3% lower, driven by lower pricing that primarily reflected comparisons with temporary, energy surcharge-related price increases in Western Europe in the prior-year period.

Personal Care sales of $2.7 billion were in line with the year-ago period, while organic sales increased 8% from a combination of pricing actions in hyperinflationary economies as well as volume and mix gains. Innovation, solid commercial execution and supply improvements contributed to volume growth, led by a 4% increase in North America and a 2% increase in D&E markets that was partially offset by 1% decline in Developed Markets.

KCP sales of $841 million decreased 5% due to divestitures and business exits as well as unfavorable currency impacts. Organic sales were in line with the year-ago period with 1% favorable mix offset by 1% unfavorable price impact primarily driven by lapping of energy surcharges in Western Europe.