The company said its Q4 2023 sales were $5.1B, GAAP EPS was $0.49, adjusted EPS was $0.53, operating cash flow was about $1.1B, and free cash flow was $829M.

1. 01

   The company said its Q4 2023 sales were $5.1B, GAAP EPS was $0.49, adjusted EPS was $0.53, operating cash flow was about $1.1B, and free cash flow was $829M.

2. 02

   The company said full-year 2023 sales were $22.1B, up 8% from 2022, including 3% organic growth, and gross margin rose 210 basis points. It said full-year operating cash flow was $2.6B and free cash flow was $2.1B.

3. 03

   For 2024, the company outlined sales of about $26.5B, an adjusted operating margin of 15.0% to 15.5%, adjusted EPS of $2.80 to $2.90, and free cash flow of about $0.7B. The free cash flow outlook includes $1.7B, the company said, such as expected tax payments on gains from the announced business exits.

4. 04

   The company said it issued $5.6B of debt in 2023 related to the acquisition of Viessmann Climate Solutions. As of December 31, 2023, net debt was $4,278 million, which it defined as long-term debt plus the 1-year portion of debt, less cash.

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

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.