The company reported Operating Revenue of $3,973 million and Operating Income of $1,127 million for Q1 2024. The prior-year figures were $4,019 million and $972 million, respectively.

1. 01

   The company reported Operating Revenue of $3,973 million and Operating Income of $1,127 million for Q1 2024. The prior-year figures were $4,019 million and $972 million, respectively.

2. 02

   The company said that on Q1 2024 it changed the method used to value inventories at certain U.S. businesses from LIFO to FIFO, and recorded a pre-tax cumulative effect of $117 million as an increase in inventories and a reduction in cost of revenue. Excluding this item, EPS was $2.44.

3. 03

   The company said it generated Operating cash flow of $589 million and free cash flow of $494 million in Q1 2024, and repurchased $375 million of its own shares. Excluding the one-time item, the free cash flow to net income conversion rate was 68%.

4. 04

   The company raised its full-year GAAP EPS outlook by $0.30 to a range of $10.30 to $10.70, and presented an operating margin outlook of 26 to 27% and an organic growth outlook of 1 to 3%. The company said it plans to repurchase approximately $1.5 billion of its shares for the full year.

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.