KMB FY2026 Q1 예상 부합

Kimberly-Clark Corporation 실적 발표

Apr 28, 2026 · 08:00 ET Chris JakubikMike HsuNelson earningscall_biz

Buzzberg 분석

Volume plus mix growth accelerates to 3%

Kimberly-Clark reported strong base business momentum with solid organic sales growth despite a turbulent environment. Management provided extensive commentary on the upcoming Kenvue merger, emphasizing executional, not structural, issues at Kenvue. The call focused heavily on navigating input cost inflation from oil and the Middle East conflict, with management signaling confidence in offsetting it through a combination of pricing, productivity, and hedging. Organic sales growth driven by 3% volume/mix, marking a string of consecutive quarters of growth.

Buzzberg 분석 Volume plus mix growth accelerates to 3% Kimberly-Clark reported strong base business momentum with solid organic sales growth despite a turbulent environment. Management provided extensive commentary on the upcoming Kenvue merger, emphasizing executional, not structural, issues at Kenvue. The call focused heavily on navigating input cost inflation from oil and the Middle East conflict, with management signaling confidence in offsetting it through a combination of pricing, productivity, and hedging. Organic sales growth driven by 3% volume/mix, marking a string of consecutive quarters of growth. 전체 분석 보기분석 접기

Company building share across baby care, women's health, and active aging, with a robust Q2 launch slate.
Management expresses confidence in Kenvue merger, seeing Kenvue's problems as executional and identifying concrete synergies (e.g., in logistics).
Increased category growth outlook to 2.5% from 2%, citing resilience in North America.

매출$4.163B+2% 전분기 대비

주당순이익(EPS)$2.00+8% 전분기 대비

매출총이익률36.85%보고값

영업이익률11.41%보고값

근거 있는 핵심 내용 6개

지금 중요한 점

이번 발표에서 가장 의미 있는 변화를 정리했습니다.

Demand

Volume plus mix growth accelerates to 3%

Margins

Management confident in offsetting $150-170M cost headwinds

Innovation

Second quarter launch slate among most active ever

핵심 내용 3개 더 보기

Demand

North America consumption outpaced shipments by 200 bps

M&A

Kenvue's challenges seen as executional, not structural

Productivity

Productivity running at 6% annual rate

보고 기간

보고 실적

지표	보고값	변화
매출	$4.163B	+2% 전분기 대비
주당순이익(EPS)	$2.00	+8% 전분기 대비
매출총이익률	36.85%	보고값
영업이익률	11.41%	보고값
잉여현금흐름	$0.321B	-44% 전분기 대비
자본지출	$0.424B	보고값

AI, 자본지출 및 수요 분석

경영진 분석

톤

Confident

Management expressed confidence in navigating cost headwinds, citing strong innovation, productivity, and historical ability to recover input cost inflation.

자본지출

투자 및 생산능력

Management highlighted significant investments in the North America supply chain, referencing a $2 billion commitment announced a few quarters back, which is progressing as planned and supports productivity initiatives.

아래에 언급된 기업 1개 모두 표시

기업발표 이후 수익률

파트너

KVUE +11.1%

파트너

Management identifies specific logistical synergies with Kenvue (combining dense and bulky products in shipments), indicating tangible cost-saving opportunities.

근거

“our view is that the recent challenges, although widely reported, have been largely executional, and we don't see them as being structural. And, in fact, there are, you know, pockets or more than pockets of strong profitable growth”

Mike Hsu

외부 신호

공급망 알파 · 1발표 이후 수익률

Kimberly-Clark faces $150-170 million in incremental input costs in H2 2026 if oil stays at $100/barrel, but is confident in offsetting via productivity and pricing, signaling to the market that current margins are resilient.

Nelson

KMB+12.6%

근거

“If we look into the back half of the year, and we assume that oil prices remain at around $100 per barrel on average, we would be facing potentially gross incremental input costs of around $150 to $170 million.”

방법론 및 범위

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