KIMBERLY CLARK CORP (KMB): restructuring charge — Kimberly-Clark announces global transformation initiative; expects $1.5B pre-tax charges through 2026

KIMBERLY CLARK CORP

Approves reorganization into three new segments (North America, IPC, IFP) by end of 2024.
Expects cumulative pre-tax charges of ~$1.5B (50% cash) and ~$800M capital spending through Dec 2026.
Targets long-term adjusted EPS growth mid-to-high single digits; free cash flow ≥$2B annually.
Aims to be 100% natural forest free across product portfolio, more than halfway by 2030.
Reaffirms 2024 outlook: low-to-mid single-digit organic sales growth, high single-digit adj. EPS growth.

item 2.05 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

KIMBERLY CLARK CORP announced a restructuring with charges of approximately $1.5 billion pre-tax.

Type: restructuring
Charge: approximately $1.5 billion pre-tax

Exact text from the filing

On March 25, 2024, Kimberly-Clark Corporation (the “Corporation”) approved a global transformation initiative intended to improve the Corporation’s focus on growth and reduce its structural cost base by (1) reorganizing the Corporation into three new segments, (2) making the corporate and regional overhead cost structures more efficient and (3) optimizing the Corporation’s global supply chain. Certain actions under the transformation initiative are being finalized for implementation. Actions contemplated under the transformation initiative have commenced in the first quarter of 2024 and are expected to be completed by December 31, 2026. The transformation initiative is expected to result in cumulative charges of approximately $1.5 billion pre-tax over that period.

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Source: SEC EDGAR

accession 0000055785-24-000045

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