The company said its revenue for 2023 rose to $12.58 billion, up 13.6% from 2022 $11.08 billion. It said revenue increased in every reportable segment except its United Kingdom building services segment.

10-KAnnual reportFiled Feb 28, 2024Period of report Dec 31, 2023Summary published (UTC) Oct 24, 2026

Key points

AI summary

The company said its revenue for 2023 rose to $12.58 billion, up 13.6% from 2022 $11.08 billion. It said revenue increased in every reportable segment except its United Kingdom building services segment.
The company said operating income for 2023 was $875.8 million (7.0% of revenues), up $310.9 million from $564.9 million (5.1%) in 2022. The company cited better project execution, a mix of work, project close-outs and dispute resolution, and a decline in prices for some raw materials as the factors.
The company said net income for 2023 was $633.0 million, or $13.31 per diluted share, compared with net income of $406.1 million, or $8.10 per diluted share, in 2022. It said its diluted earnings per share for 2022 to 2023 also benefited from a lower weighted average share count due to common stock repurchases.
The company said its remaining performance obligations rose from $7.46 billion as of December 31, 2022 to $8.85 billion as of December 31, 2023. It said it expects a similar level of demand in the near term, provided the business environment does not significantly deteriorate.

Key figures

Fiscal year ended December 31, 2023

Revenue: $12.6B
Operating income: $876M
Net income: $633M
EPS: $13.31
Gross profit: $2.1B
Operating cash flow: $900M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Annual revenue reaches $12.58 billion, up 13.6%

The company said its revenue for 2023 rose to $12.58 billion, up 13.6% from 2022 $11.08 billion. It said revenue increased in every reportable segment except its United Kingdom building services segment.

Source · Based on the MD&A text of the filing

Operating income reaches $875.8 million, operating margin 7.0%

The company said operating income for 2023 was $875.8 million (7.0% of revenues), up $310.9 million from $564.9 million (5.1%) in 2022. The company cited better project execution, a mix of work, project close-outs and dispute resolution, and a decline in prices for some raw materials as the factors.

Source · Based on the MD&A text of the filing

Net income $633.0 million, diluted EPS $13.31

The company said net income for 2023 was $633.0 million, or $13.31 per diluted share, compared with net income of $406.1 million, or $8.10 per diluted share, in 2022. It said its diluted earnings per share for 2022 to 2023 also benefited from a lower weighted average share count due to common stock repurchases.

Source · Based on the MD&A text of the filing

Remaining performance obligations $8.85 billion

The company said its remaining performance obligations rose from $7.46 billion as of December 31, 2022 to $8.85 billion as of December 31, 2023. It said it expects a similar level of demand in the near term, provided the business environment does not significantly deteriorate.

Source · Based on the MD&A text of the filing

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.

View the original filing on SEC EDGAR ↗

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