The company said its consolidated revenue for the 3 months ended March 31, 2024 increased $187.2 million, or 5.4%, from $3,443.3 million in the prior-year period to $3,630.5 million. Organic growth was $136.9 million (4.0%), and foreign exchange rates reduced revenue by $2.7 million (0.1%).

1. 01

   The company said its consolidated revenue for the 3 months ended March 31, 2024 increased $187.2 million, or 5.4%, from $3,443.3 million in the prior-year period to $3,630.5 million. Organic growth was $136.9 million (4.0%), and foreign exchange rates reduced revenue by $2.7 million (0.1%).

2. 02

   The company said acquisition revenue, net of disposition revenue, increased revenue by $53.0 million (1.5%). It cited the purchase of Flywheel Digital in January 2024 and acquisition activity in the second half of 2023 as the main drivers, partially offset by dispositions in the Execution & Support discipline in the first half of 2023.

3. 03

   The company said operating income for Q1 2024 increased $132.4 million to $478.9 million, and operating margin was 13.2% (10.1% in the prior-year period). EBITA increased $139.1 million to $500.4 million, and EBITA margin was 13.8% (10.5%). Results for Q1 2023 included real estate repositioning costs of $119.2 million.

4. 04

   The company said it used $618.5 million of cash in operating activities in the first 3 months of 2024, including $1.0 billion of operating capital use. It said discretionary spending was $1.2 billion. Net debt as of March 31, 2024 was $3.1 billion, an increase of $1.9 billion from December 31, 2023.

Key figures

Quarter ended March 31, 2024

Revenue

$3.6B

Operating income

$479M

Net income

$319M

EPS

$1.59

Operating cash flow

−$618M

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.