09:07 AM EDT, 03/27/2024 (MT Newswires) -- Kimberly-Clark ( KMB ) said Wednesday its is reorganizing its operations into three business segments in an effort to improve performance and cut costs.

The segments will be North America, the largest with $11 billion in annual sales; International Personal Care, with $6 billion in sales; and International Family Care and Professional, with $3.5 billion in sales annually, the company said.

The paper and sanitary products company said it expects to incur about $1.5 billion in one-time restructuring and reorganization costs, split roughly into 50% in non-cash charges and 50% of cash expenses, over the next three years.

Kimberly-Clark ( KMB ) reiterated its 2024 outlook, saying it expects to deliver a low-to-mid single-digit percentage increase in organic net sales, with adjusted earnings per share expected to grow at a high single-digit rate.

Shares of the company were up more than 1% in Wednesday's premarket activity.

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