Kimberly-Clark's Q4 Results Miss Forecasts; Stock Drops

Despite disappointing results, the company raises its quarterly dividend and predicts growth in 2024.

Kimberly-Clark Corp. reported lower than expected fourth-quarter profit and sales, causing its stock to drop nearly 5%.
The company attributed the weak results to the strong dollar affecting international revenue and the divestiture of a business in Brazil.
Despite the disappointing results, Kimberly-Clark raised its quarterly dividend by 4 cents to $1.22 per share.
The company's 2024 outlook is for earnings per share to increase by a high-single-digit percentage, and organic net sales to grow by a low- to mid-single-digit percentage.
Price hikes undertaken over the past year to offset supply chain disruptions and higher input costs have marred demand from inflation-weary consumers.