Kimberly-Clark Corp

KMB: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$269.00	Ggrbbty	Nhspzqppk

Surging Sales Insufficient to Thwart Leaking Profits in Kimberly-Clark's Q1; Shares Not a Bargain

Erin Lash

Apr 22, 2022

The market found favor with narrow-moat Kimberly-Clark’s swelling first-quarter sales growth metrics, sending shares up to the tune of nearly 10%. While we acknowledge a 10% jump in organic sales is impressive at first blush (composed of a 6% benefit from higher prices and 2% each from increased volumes and favorable mix), we don’t think it strikes the same chord when juxtaposed with the 8% decline posted in the year-ago period (which was constrained by weather-related disruptions and pantry destocking).

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