Kimberly-Clark’s sales of $5.1 billion in the first quarter of 2022 increased 7% compared to the year-ago period. Changes in foreign currency exchange rates reduced sales 2%. Organic sales increased 10% as net selling prices rose 6%, volumes grew 2% and product mix increased sales 2 points. In North America, organic sales increased 13% in consumer products and increased 5% in K-C Professional. Outside North America, organic sales rose 10% in developing and emerging (D&E) markets and 8% in developed markets.

“I’m pleased with our team’s continued excellent execution during this volatile and highly inflationary environment. We delivered double-digit organic sales growth with strong increases across all our segments in the first quarter,” says chairman and CEO Mike Hsu. “Our growth strategy is working and we’re continuing to invest in our business. Additionally, we continue to take the necessary actions to mitigate macro headwinds and remain committed to improving our margins over time.”

In the Personal Care Segment, first quarter sales of $2.7 billion increased 11%. Net selling prices increased 8%, volumes grew 3% and product mix improved 3 points. Changes in foreign currency exchange rates decreased sales by approximately 2%. First quarter operating profit of $475 million decreased 1%. The comparison was impacted by input cost inflation, higher marketing, research and general spending as well as unfavorable foreign currency effects. Results benefited from organic sales growth and cost savings.

Sales in North America increased 16%. Net selling prices increased 8%, product mix improved 3 points and volumes rose 5%, in part due to the weather-related supply chain disruptions in the year-ago period. Organic sales were up double-digits in baby & child care, adult care and feminine care.

Sales in D&E markets increased 8%. Net selling prices increased sales 9% and product mix improved 3 points while volumes declined 1%. Changes in foreign currency exchange rates decreased sales 3%. Organic sales growth was strong across all regions and categories.

Sales in developed markets outside North America (Australia, South Korea and Western/Central Europe) increased 5%.  Volumes increased 8% and net selling prices increased sales 4% while changes in foreign currency exchange rates decreased sales 7%.