The company said its Q3 2024 net sales were $2,987.5 million, down 1.4% from $3,030.0 million a year earlier. It cited a volume decline of about 3% and a price realization benefit of about 2%.

1. 01

   The company said its Q3 2024 net sales were $2,987.5 million, down 1.4% from $3,030.0 million a year earlier. It cited a volume decline of about 3% and a price realization benefit of about 2%.

2. 02

   The company said its gross margin for Q3 fell 360 basis points to 41.3% from 44.9% a year earlier, and its operating profit declined 16.7% to $613.2 million from $735.9 million. It cited unfavorable commodity costs and higher supply chain costs as factors.

3. 03

   The company said its net income for Q3 decreased 13.9% to $446.3 million from $518.6 million, and its diluted earnings per share fell to $2.20 from $2.52. It cited lower gross profit and higher business realignment costs as factors that reduced earnings.

4. 04

   The company said it generated $1,590.0 million of cash from operating activities in the first 9 months of 2024, an increase of $24.4 million from $1,565.6 million a year earlier. It also said its cash and cash equivalents were $615.0 million as of September 29, 2024.

Key figures

Quarter ended September 29, 2024

Revenue

$3.0B

Operating income

$613M

Net income

$446M

Gross profit

$1.2B

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.

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.