The company said revenue for Q1 2024 was $1.05 billion, with core revenue up 6%. Operating income was $167 million, up 20% from a year earlier, and operating margin was 15.9%.

1. 01

   The company said revenue for Q1 2024 was $1.05 billion, with core revenue up 6%. Operating income was $167 million, up 20% from a year earlier, and operating margin was 15.9%.

2. 02

   The company said net income for Q1 2024 was $124 million and diluted earnings per share were $3.47, compared with $98 million and $2.75, respectively, a year earlier. Adjusted net income was $124 million, versus $101 million a year earlier.

3. 03

   The company said that in Q1, Home Comfort Solutions revenue fell 1% to $675 million, while Building Climate Solutions revenue rose 21% to $373 million. Segment profit was $112 million and $78 million, respectively. The company cited destocking in the two-step distribution channel as the reason for the decline in Home Comfort Solutions revenue.

4. 04

   The company revised its full-year 2024 earnings per share outlook range to $19.00 to $20.00 from the prior range of $18.50 to $20.00, and said it expects free cash flow of $500 million to $600 million. For Q1, operating cash flow was an outflow of $23 million, the company reported.

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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