Kimberly-Clark Corp KMB
Q1 2013 Earnings Call Transcript

Transcript Call Date 04/19/2013

Operator: Ladies and gentlemen, thank you for your patience in holding, we now have your presenters in conference. Please be aware that each of your lines is in a listen-only mode. At the conclusion of today's presentation, we will open the floor for your questions. At that time, instructions will be given as to the procedure to follow, if you'd like to ask a question.

It is now my pleasure to introduce today's first presenter, Mr. Paul Alexander.

Paul J. Alexander - VP, IR: Thanks David, and good morning, everyone. Welcome to our First Quarter Earnings Conference Call. Here with me today in Dallas are Tom Falk, Chairman and CEO; Mark Buthman, Senior VP and CFO; and Mike Azbell, Vice President and Controller.

Here is the agenda for our call. After an opening comment from Tom, Mark will begin with the review of first quarter results. He will also provide an update on the strategic changes we're making in Europe. Tom will then provide his perspectives on our results and the outlook for the full year and we'll finish with Q&A.

We have a presentation of today's materials in the Investor section of our website which is We will be making forward-looking statements today. Please see the risk factors section of our latest Annual Report on Form 10-K for further discussion of forward-looking statements.

We will also be referring to adjusted results and outlook, both excludes certain items described in this morning's news release. The release has further information on these adjustments and reconciliations to comparable GAAP financial measures.

Now I will turn it over to Tom.

Thomas J. Falk - Chairman and CEO: Good morning everyone. I just thought it would be appropriate for me to start this morning by commenting that we're well aware of the eyes of the nation are on the events that are unfolding this morning in Boston and I just like to start by offering our condolences regarding the tragic events that happened earlier this week in Boston. Please know that the thoughts and prayers of everyone at Kimberly-Clark as well as those of the entire nation are with the families of the victims of this terrible event.

I'd also like to let you know that we're sitting down here in Dallas, Texas, very close to this small town of West Texas and so we like to also extend our deepest sympathies to our neighbors to the south as they deal with the aftermath of the explosion of the fertilizer plant that happened at that small community this week. So, it's truly been a difficult week for Americans in various places across the country.

So, I just thought we should start with that and remind everyone what's really important going on around us today. But with that I will turn it over to Mark Buthman.

Mark A. Buthman - SVP and CFO: Thanks Tom. Good morning everyone. Let me start with the headlines; first, we achieved organic sales growth of 3% that included increases of 6% in our North American Consumer Tissue business and 5% in K-C International; second, we delivered adjusted earnings per share of $1.4, as an all-time record and up 19% year-on-year boosted by strong cost savings; and third, we continue to allocate capital in shareholder friendly ways through dividends and share repurchases.

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