Kimberly Clark Corp (KMB) · Nov 5, 2026 · Earnings

Kimberly-Clark earnings beat, but organic sales and margins slide

Beat — Adjusted EPS $1.70 vs published consensus near $1.60

Kimberly-Clark’s Q3 earnings beat expectations, but weak organic sales, margin pressure and China disruption temper the Kenvue-driven growth story.

Kimberly-Clark is midway through a major portfolio reset: it has completed the IFP divestiture, just closed the Kenvue acquisition, and is trying to use its Powering Care operating model to build a broader consumer-health platform. The Kenvue close and the quarter’s preliminary figures were already public before this final release, so the main new information is the completed detail and how the underlying business held up. The Kenvue transaction was completed on November 2, 2026, while the company had already said its preliminary third-quarter outlook was consistent with prior expectations.

The quarter cleared the earnings bar, but not because the core operating picture improved. Adjusted EPS from continuing operations was $1.70, above the published consensus near $1.60, while revenue of $4.134 billion was broadly around the roughly $4.1 billion expectation.

Figure	Q3 2026	Q3 2025	Consensus
Net sales (Income Statement)	$4,134M (-0.4%)	$4,150M	~$4,120M
Organic sales (Sales growth table)	-1.3%	—	—
Adjusted operating profit (Adjusted Operating Profit)	$677M (-0.9%)	$683M	—
Adjusted EPS—continuing operations (Adjusted EPS)	$1.70 (+17.2%)	$1.45	~$1.60
NA operating profit (Segment results—NA)	$657M (+2.7%)	$640M	—
IPC operating profit (Segment results—IPC)	$144M (-32.7%)	$214M	—

Underlying demand was soft, especially outside North America. Total organic sales fell 1.3%, with the China social-media disruption creating an approximately 270-basis-point headwind and retailer inventory movements adding pressure in North America. IPC organic sales fell 4.6%, and its operating profit plunged 32.7%, showing that the disruption and pricing pressure are hitting the international business rather than merely distorting reported comparisons. 〔0〕

Margins remain the weak spot despite productivity savings. Adjusted gross margin declined 130 basis points to 35.5%, while adjusted operating profit slipped 0.9% year over year. The company says productivity and lower marketing spending partly offset unfavorable pricing net of cost inflation and supply-chain investments, but the quarter still shows that its transformation is currently defending profitability more than expanding it. 〔1〕

The reported EPS surge is largely transaction accounting, not a step-change in the ongoing business. Reported diluted EPS was $5.37 because the completed IFP transaction generated a $1.4 billion gain; adjusted EPS attributable to Kimberly-Clark was $1.70, down from $1.82 a year earlier. The Kenvue acquisition also added $106 million of current-quarter operating charges, so the eventual integration benefits remain prospective rather than visible in this quarter’s results.

Management held the existing 2026 outlook, which limits the surprise. The company still expects organic sales growth to run about 100 basis points below category growth, adjusted operating profit to grow mid-single digits, continuing-operations adjusted EPS to grow high single digits, and attributable adjusted EPS to decline low single digits on a constant-currency basis. That is a reaffirmation, not an upgrade, and it leaves the market waiting for the Kenvue integration to offset weak organic growth and margin pressure. The outlook was previously described as consistent with prior expectations.

Bottom line: Kimberly-Clark beat the adjusted-EPS hurdle, but the core quarter was mixed: weak organic sales and shrinking margins were masked by tax effects and transaction-related items. The result keeps the Kenvue strategy on track, but does not yet prove that the larger company is executing better.

What to watch next

Kenvue integration update with fourth-quarter results

Original filing on SEC EDGAR

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AllSight · BlackBerry Q2 FY27

Revenue $163.3M vs ~$144M expected; adjusted basic EPS $0.07 vs ~$0.04 consensus — a real upside surprise.Income statement
QNX revenue +27% to $80.3M; segment EBITDA $29.0M from $20.5M. “Record performance… core automotive.”Segment — QNX
Licensing jumped to $22.1M from $6.6M — it amplified the beat, but it's less recurring than QNX, so the quality sits in QNX.Segment — Licensing
FY27 guide lifted to $616–636M rev / $141–158M EBITDA, above the prior $594–621M / $119–139M framework.Guidance
QNX growth, margins, cash and a raised outlook all beat. But licensing amplified it and Secure Comms is flat — net retention 91% from 93%.Segment — Secure Comms

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Events/ANDE/8-K · Earnings

8-K · Item 2.02 · Earnings

The Andersons — a record Renewables quarter that beat profit expectations

Filed Aug 3, 2026ANDE · NASDAQ

AllSight readBeatPriced in▲ 1.8% since filed · reaction agrees

adj. EPS $2.15 vs ~$1.48 consensus

This filing tests whether The Andersons' sharp profit increase reflects broad operating improvement or a one-off renewable-fuels boost. It also separates strong adjusted earnings and cash generation from the quarter's legal and impairment charges.

The quarter was substantially stronger than both last year and the published earnings expectation. Adjusted EPS reached $2.15, versus $0.24 a year earlier and above the published consensus of about $1.48; reported EPS was $1.65. Adjusted EBITDA more than doubled to $140 million, while sales slipped modestly — the improvement came from margins and operating performance rather than higher revenue. Financial Highlights · Statements of Operations

Q2 ($M, exc. per-share)	Q2 2026	Q2 2025	YoY
Sales & merchandising revenue	3,097.7	3,135.9	−1%
Net income (attributable)	56.6	7.9	+48.7
Diluted EPS	1.65	0.23	+1.42
Adjusted EPS	2.15	0.24	+1.91
Adjusted EBITDA	140.3	65.2	+75.1
Agribusiness adj. pretax	20.3	16.8	+3.5
Renewables adj. pretax	88.4	9.6	+78.8
Cash from operations	487.9	299.3	+188.6
Cash from ops (pre-WC)	112.9	42.9	+70.1

Renewables drove nearly all of the upside — the operating backdrop was strong, but the result also benefited materially from tax credits. Renewables' adjusted pretax income rose to $88 million on record production, stronger ethanol margins and merchandising gains. It also received $24 million of 45Z producer tax credits, so this was not solely a repeatable plant-margin improvement; the company did cite healthy export and domestic ethanol demand as supportive. Renewables — Record Q2 · Segment Data

Agribusiness improved, but it was a supporting contributor rather than the main earnings engine. Adjusted pretax income increased to $20 million as fertilizer margins improved and merchandising benefited from commodity-price volatility, despite lower fertilizer volumes. Agribusiness — Improved Q2 · Segment Data

Cash generation improved and funding capacity is comfortable, while reported earnings still absorbed meaningful non-core costs. Operating cash flow was $488 million ($113 million before working-capital changes); capital spending was $76 million. Adjusted EPS excludes $0.50 of legal-settlement, impairment and transaction items, so the $2.15 adjusted result runs ahead of the $1.65 reported. Leverage stays below the <2.5× debt-to-EBITDA target; no new quantified full-year outlook was given. Cash & Liquidity · Adjusted Net Income

Community sentiment · 612 votes

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Kimberly-Clark earnings beat, but organic sales and margins slide

What to watch next

More Kimberly Clark Corp news

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