$KMB · KIMBERLY CLARK CORP
Kimberly-Clark's Q3 FY2026 10-Q reports net sales of $4.134B (-0.4% YoY), with adjusted EPS of $1.70 (+17.2% YoY) and GAAP diluted EPS of $5.37. Net income attributable to K-C was $1.793B, boosted by $1.395B in income from discontinued operations tied to the July 1, 2026 IFP transaction with Suzano (51% stake sold for ~$1.3B cash). The company completed the Kenvue acquisition on November 2, 2026 for ~$6.7B cash plus ~281.1M shares of K-C stock.
- Q3 net sales $4.134B, down 0.4% YoY; organic sales -1.3%.
- Adjusted EPS $1.70, up 17.2% YoY from $1.45.
- GAAP diluted EPS $5.37, including $4.18 from discontinued operations.
- Kenvue acquisition closed Nov 2, 2026: ~$6.7B cash plus ~281.1M K-C shares.
- IFP transaction with Suzano closed July 1, 2026; 51% sold for ~$1.3B cash.
KMB trades at $110.20, up 1.29% on the day but down 0.18% since filing, suggesting a muted reaction to a quarter where headline EPS was inflated by the discontinued-operations gain.
Kimberly-Clark is simultaneously executing a transformative Kenvue acquisition and an IFP divestiture, reshaping its portfolio while core organic sales decline.
The Kenvue deal transforms Kimberly-Clark into a consumer-health player, while the IFP divestiture to Suzano exits the international tissue business.
Middle East conflicts are disrupting energy supplies and raw-material prices, with ~$250M estimated full-year incremental input costs. Kenvue integration and acquisition-related costs ($106M in Q3, $263M nine months) add execution risk.