The company said net sales for Q1 2024 were $17.2 billion (Q1 2023 $15.1 billion), and net earnings were $1.5 billion ($6.39 per share, Q1 2023 $1.7 billion, $6.61 per share). Shares repurchased in Q1 2024 totaled 13, compared with 12 in Q1 2023.

1. 01

   The company said net sales for Q1 2024 were $17.2 billion (Q1 2023 $15.1 billion), and net earnings were $1.5 billion ($6.39 per share, Q1 2023 $1.7 billion, $6.61 per share). Shares repurchased in Q1 2024 totaled 13, compared with 12 in Q1 2023.

2. 02

   MFC operating profit for Q1 was $311 million, down 18% from $377 million in Q1 2023, the company said. It cited a $100 million reach-forward loss on an option for a classified program as the reason for the decline.

3. 03

   The company said cash from operations for Q1 2024 was $1.6 billion, capital expenditures were $378 million, and free cash flow was $1.3 billion. In the same quarter, it paid $780 million in dividends and repurchased 2.3 million shares for $1.0 billion.

4. 04

   The company said it reaffirmed its 2024 financial outlook. Its outlook calls for net sales of $68,500 to $70,000 million, diluted earnings per share of $25.65 to $26.35, and free cash flow of $6,000 to $6,300 million.

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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