The company said revenue for Q1 2024 (3 months) rose 10% from a year earlier, and that growth across several segments partially offset the decline from the sale of Engineering Solutions on May 2, 2023.

10-QQuarterly reportFiled Apr 25, 2024Period of report Mar 31, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

The company said revenue for Q1 2024 (3 months) rose 10% from a year earlier, and that growth across several segments partially offset the decline from the sale of Engineering Solutions on May 2, 2023.
The company said operating profit for Q1 2024 rose 21%, or 19% excluding the gain on disposition in 2023. It cited higher revenue as the main driver, partially offset by higher compensation and technology costs.
The company said free cash flow (non-GAAP) for the first 3 months of 2024 was $851 million, compared with $488 million a year earlier, an increase of $363 million. Cash provided by operating activities was $354 million higher at $948 million.
The company said it repurchased 1.0 million shares for $500 million in cash in Q1 2024. Commercial paper outstanding was $250 million as of March 31, 2024, and there was none as of December 31, 2023.

Key figures

Quarter ended March 31, 2024

Revenue: $3.5B
Operating income: $1.4B
Net income: $991M
EPS: $3.16
Operating cash flow: $948M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

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.

Revenue increased 10%

The company said revenue for Q1 2024 (3 months) rose 10% from a year earlier, and that growth across several segments partially offset the decline from the sale of Engineering Solutions on May 2, 2023.

Source · Based on the MD&A text of the filing

Operating profit increased 21%

The company said operating profit for Q1 2024 rose 21%, or 19% excluding the gain on disposition in 2023. It cited higher revenue as the main driver, partially offset by higher compensation and technology costs.

Source · Based on the MD&A text of the filing

Free cash flow $851 million

The company said free cash flow (non-GAAP) for the first 3 months of 2024 was $851 million, compared with $488 million a year earlier, an increase of $363 million. Cash provided by operating activities was $354 million higher at $948 million.

Source · Based on the MD&A text of the filing

Share repurchases and commercial paper

The company said it repurchased 1.0 million shares for $500 million in cash in Q1 2024. Commercial paper outstanding was $250 million as of March 31, 2024, and there was none as of December 31, 2023.

Source · Based on the MD&A text of the filing

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.

View the original filing on SEC EDGAR ↗

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