Kimberly-Clark de México (OTCPK:KCDMY) Q3 2024 Earnings Conference Call October 18, 2024 10:30 AM ET
Company Participants
Pablo Gonzalez – CEO
Xavier Cortés Lascurain – CFO
Conference Call Participants
Ben Theurer – Barclays
Robert Ford – Bank of America
Antonio Hernandez – Actinver
Renata Cabral – Citigroup
Eugenia Caballero – Morgan Stanley
Juan Guzman – Scotiabank
Jorge Izquierdo – BTG Pactual
Operator
Good day, everyone. And welcome to today’s Kimberly-Clark de Mexico 3Q 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, you will have the opportunity to ask questions during the question-and-answer session [Operator Instructions]. Please note this call is being recorded and I will be standing by if you need any assistance.
It is now my pleasure to turn the conference over to CEO, Mr. Pablo Gonzalez.
Pablo Gonzalez
Hello, everyone. Thanks for participating on the call. As usual, I’ll make some preliminary remarks and then pass it on to Xavier to provide some details of the Q3 quarter results. Our sales accelerated and our margins remained strong. Let me first provide some perspective on the top line. Both our consumer products and professional businesses managed to post growth despite a soft market and a very aggressive promotional environment. Volumes in consumer products were slightly down given that, as we mentioned in last quarter’s call, we decided to decrease our promotional activities and increased prices on our tissue businesses to offset raw material costs. Also, during the quarter, retailers and consumers reduced their inventories as is always the case after the summer promotion season. Prices were up 2% and thus sales increased 1%. Growth for the quarter was supported by exports and parent roll sales. With the former, we continue to expand our relationship with our partner, Kimberly-Clark Corporation as well as established a base for increased sales of other personal care products particularly in the US. On the latter, operating our tissue
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