KIMBERLY CLARK (KMB) Company Report

On June 5, 2025, Kimberly-Clark entered into an agreement with Suzano to form a joint venture comprising its International Family Care and Professional (IFP) business; at closing Suzano will acquire a 51% stake for approximately $1.7 billion, and Kimberly-Clark will retain a 49% equity interest.
Effective in Q2 2025, the IFP business is reported as discontinued operations under ASC 205, with its assets, liabilities and results excluded from continuing operations and reportable segment results.
Exhibit 99.1 revises the 2024 Annual Report’s MD&A, financial statements and exhibits to reflect the IFP business as discontinued operations for all periods presented; continuing operations are reorganized into North America and International Personal Care segments.
No other updates were made to the 2024 Form 10-K; unaffected sections remain unchanged and should be read in conjunction with subsequent Q1–Q3 2025 Form 10-Q filings.

1 day ago

8-K

Kimberly-Clark details Kenvue acquisition rationale and synergies

KMB

M&A

Executives outlined the strategic rationale for acquiring Kenvue to accelerate Kimberly-Clark’s shift into higher-margin, higher-growth health and wellness categories, emphasizing strong portfolio and geographic complementarity across life stages.
The deal targets $1.9 billion in cost synergies (≈12% of Kenvue net sales) over three years, with about 40% from G&A overhead, 30% from procurement and supply chain, and 30% from sales and marketing—80% expected within two years.
Revenue synergies focus on leveraging combined distribution, such as introducing Kenvue brands in Kimberly-Clark’s strong markets (e.g., Mexico, Korea) and using Kenvue’s 3.1 million Indian distribution points to expand Kimberly-Clark products.
The core business has delivered volume-mix growth for seven consecutive quarters by cascading premium innovations into value tiers and avoiding promotional dependency to protect margins.
CEO Mike Hsu described recent share price weakness as a buying opportunity, forecasting that within two years post-close the combined company will achieve top-tier CPG margins and superior growth.

2 days ago

Transcript

Kimberly-Clark outlines Kenvue acquisition rationale and synergy targets

KMB

M&A

Guidance Update

Announced the transformational acquisition of Kenvue to create a leading personal wellness company, combining KC’s advanced operating model with Kenvue’s iconic health brands and scientific expertise.
Highlighted strong geographic and portfolio complementarity, leveraging KC’s presence in Mexico, China and Korea and Kenvue’s distribution in Europe and India to drive significant revenue synergies.
Targeting cost synergies split into 40% G&A, procurement & supply chain, and 30% sales & marketing, with 80% delivery in first two years and additional upside from KC’s lean organizational structure.
KC’s base business remains robust with seven consecutive quarters of volume and mix growth, expecting ~2% organic growth in Q4 2025, supported by tissue strength and disciplined value-tier execution.

2 days ago

Transcript

Kimberly-Clark outlines strategic rationale and synergies for proposed Kenvue acquisition

KMB

M&A

Kimberly-Clark CEO Mike Hsu emphasized the goal of building a “preeminent personal wellness leader” by combining KC’s consumer product expertise with Kenvue’s science, medical and regulatory capabilities to “deliver extraordinary everyday care” as a unified entity.
The portfolios exhibit strong geographic and distribution complementarity, with KC’s strength in North America, Mexico (≈$3 billion business) and China, and Kenvue’s leading multi-billion dollar positions in Europe and 3.1 million of 5 million distribution points in India, creating clear cross-market expansion opportunities.
Management targets $1.9 billion of cost synergies (≈12% of Kenvue’s net sales) over three years post-close, based on conservative bottom-up due diligence and aligned with consumer health M&A benchmarks.
Synergy delivery is expected across three main buckets—G&A overhead (≈40% of savings), procurement and supply chain optimization, and sales & marketing consolidation (≈30% of savings)—with ~80% of benefits realizable within two years.

2 days ago

Transcript

Suzano reports higher operational efficiency in Q3 2025

KMB

Earnings

M&A

New Projects/Investments

Absatz von 3,6 Mio. Tonnen Zellstoff und Papier, ein Anstieg um 20 % gegenüber 3Q24
Zahlungsmittelkosten der Zellstoffproduktion gesunken auf 801 BRL je Tonne (− 7 % vs. 3Q24)
Nettoumsatz von 12,2 Mrd. BRL, bereinigtes EBITDA 5,2 Mrd. BRL, operativer Mittelzufluss 3,4 Mrd. BRL und Nettogewinn 2 Mrd. BRL
Suzano Packaging erzielte das erste positive bereinigte EBITDA aus den im Oktober 2024 erworbenen US-Aktivitäten
Netto-Verschuldung im USD-Bereich bei 3,3-facher EBITDA; Barmittelbestand 6,5 Mrd. USD

Nov 7, 2025, 3:47 AM

Press Release

Suzano announces Q3 2025 operational efficiency improvements

KMB

Earnings

Shipments of pulp and paper rose 20% YoY to 3.6 million tonnes in Q3 2025.
Production cash costs fell 7% YoY to 801 BRL/tonne, driven by the new Ribas do Rio Pardo mill.
Net revenue was 12.2 billion BRL, adjusted EBITDA 5.2 billion BRL, operating cash flow 3.4 billion BRL, and net income 2 billion BRL.
Net leverage ended at 3.3x in USD, with cash of 6.5 billion USD at quarter-end.
Suzano Packaging’s U.S. operations recorded their first positive adjusted EBITDA since acquisition.

Nov 7, 2025, 3:45 AM

Press Release

Suzano reports Q3 2025 operational efficiency and lower cash costs

KMB

Earnings

New Projects/Investments

Sales rose 20% Y-o-Y to 3.6 million tonnes of pulp and paper, driven by the new Ribas do Rio Pardo mill and US asset integration.
Cash cost of pulp production fell 7% versus Q3 2024 to R$801/tonne.
Net revenue was R$12.2 billion (flat Y-o-Y); Adjusted EBITDA reached R$5.2 billion, with operating cash flow of R$3.4 billion and net profit of R$2 billion.
Net leverage stood at 3.3× in USD and the cash position was US$6.5 billion at quarter-end.
Suzano Packaging’s US operations, acquired in October 2024, delivered their first positive Adjusted EBITDA.

Nov 6, 2025, 10:58 PM

Press Release

Kimberly-Clark acquisition and related M&A investigations

KMB

Legal Proceedings

M&A

Brodsky & Smith is probing whether Kenvue’s board breached fiduciary duties in the $21.01 per share acquisition by Kimberly-Clark (comprised of $3.50 cash and 0.14625 KMB shares).
The firm is also investigating Sonida Senior Living’s $6.90-per-share merger with CNL Healthcare Properties, structured as 66% stock and 34% cash.
Evoke Pharma’s $11.00-per-share cash sale to QOL Medical is under scrutiny for fair process.
SM Energy’s merger into Civitas Resources—featuring a 1.45 share exchange ratio and an implied $12.8 billion enterprise value—is likewise being reviewed.

Nov 5, 2025, 11:27 PM

Press Release

Kimberly-Clark to Acquire Kenvue in $48.7B Deal

KMB

M&A

Kimberly-Clark will acquire Kenvue, the largest pure-play consumer health company by revenue, to create a leading global health & wellness firm.
The transaction values Kenvue at $48.7 billion enterprise value, with shareholders receiving $21.01 per share ( $3.50 cash + 0.14625 K-C shares ).
Pro forma ownership will be ~54% for current Kimberly-Clark shareholders and ~46% for Kenvue shareholders.
The deal is expected to generate ~$2.1 billion in synergies ( $1.9 billion cost synergies and $0.2 billion margin flow-through ).
Closing is targeted in the second half of 2026, supported by fully committed financing and a goal of ~2.0× net leverage within 24 months post-close.

Nov 3, 2025, 1:00 PM

Presentation

Kimberly-Clark to acquire Kinview, creating a $32B health and wellness leader

KMB

M&A

Kimberly-Clark will acquire Kinview in an all-stock transaction, forming a $32 billion net revenue company with $7 billion in EBITDA pre-synergies.
The deal is expected to yield $2.1 billion in net EBITDA synergies over 3–4 years, driven by combined cost and revenue efficiencies.
Financing via stock issuance and $1.8 billion Susano JV proceeds will lead to pro forma leverage of approximately 2x EBITDA within 24 months; guidance suggests mid-single-digit EPS dilution in year one, turning accretive in year two.
The combined entity will manage 10 billion-dollar brands in OTC, skin care, oral care, and wound care, leveraging Kimberly-Clark’s innovation and commercial capabilities to tap into the $800 billion health and wellness market.

Nov 3, 2025, 1:00 PM

Transcript

Earnings Transcripts

Quarterly earnings call transcripts for KIMBERLY CLARK.

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