The company said net sales for Q1 2024 (3 months) were $978.8 million, up 1% from $966.4 million a year earlier, and that net earnings were $147.6 million and diluted earnings per share were $1.00.

1. 01

   The company said net sales for Q1 2024 (3 months) were $978.8 million, up 1% from $966.4 million a year earlier, and that net earnings were $147.6 million and diluted earnings per share were $1.00.

2. 02

   The company said adjusted net earnings for Q1 2023 were $142.5 million and adjusted earnings per share were $0.94, excluding impairment expense related to the sale of its business in Turkey, and that there were no adjusting items in Q1 2024.

3. 03

   The company said cash provided by operations for Q1 2024 (3 months) was $106.6 million and free cash flow was $84.6 million, both down from a year earlier. It cited higher incentive payments and higher inventory levels as factors.

4. 04

   The company reaffirmed its 2024 full-year outlook for sales growth of 3% to 5% and earnings per share of $3.90 to $4.15. It repurchased 906,000 shares for $74.5 million in Q1 2024 and said it expects to repurchase $300 million in 2024.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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