Kimberly-Clark’s sales of $5.1 billion in the third quarter of 2022 increased 1% compared to the year-ago period. Organic sales increased 5% as net selling prices rose 9% and product mix increased sales 1% while volumes declined 5%. Changes in foreign currency exchange rates reduced sales 4%. In North America, organic sales decreased 2% in consumer products and increased 5% in K-C Professional. Outside North America, organic sales rose 11% in both developing and emerging (D&E) and developed markets.

In the Personal Care Segment, third quarter sales of $2.6 billion decreased 1%. Changes in foreign currency exchange rates reduced sales by 4% and the acquisition of the controlling interest in Thinx increased sales 1 point. Net selling prices increased 8% and product mix improved one point while volumes declined 7%. Third quarter operating profit of $423 million decreased 15%. The comparison was impacted by input cost inflation, lower volumes and associated fixed cost under absorption, higher marketing, research and general spending as well as unfavorable foreign currency effects. Results benefited from higher net selling prices and cost savings.

Sales in North America decreased 5%. Volumes declined 10% while net selling prices increased 4% and the Thinx acquisition increased sales approximately two points. The volume comparison reflects elevated shipments in the year-ago period to restore retailer inventory levels following supply disruptions. The planned exit of a private label contract earlier this year as well as some reductions in retailer inventory levels late in the quarter also impacted the comparison.

Sales in D&E markets increased 5%. Net selling prices increased sales 15% and product mix improved 3% while volumes declined 6%. Changes in foreign currency exchange rates decreased sales 6%. Organic sales growth was strong across Latin America and the Asia Pacific region.

Sales in developed markets outside North America (Australia, South Korea and Western/Central Europe) decreased 4%. Changes in foreign currency exchange rates reduced sales 12%. Net selling prices increased sales 5% and volumes grew 3%.