The company said that 2023 net sales rose $1.32 billion (15.7%) from 2022 to $9.68 billion. Of this, organic sales growth was $1.20 billion, attributable to both the Freight and Transit Segments.

1. 01

   The company said that 2023 net sales rose $1.32 billion (15.7%) from 2022 to $9.68 billion. Of this, organic sales growth was $1.20 billion, attributable to both the Freight and Transit Segments.

2. 02

   The company said it expects one-time restructuring charges for Integration 2.0 of approximately $135 million to $165 million, and that approximately $118 million had been incurred through December 31, 2023. Charges for 2023 alone totaled approximately $49 million.

3. 03

   The company said operating cash flow was $1,201 million in 2023, with $1,298 million coming from net income and other changes in related income statement items. Net cash used for working capital changes, including higher receivables, of $(97) million partially offset this.

4. 04

   The company said it used $(492) million of cash for investing activities and $(633) million for financing activities in 2023. Financing activities included stock repurchases of $(409) million and dividend payments of $(123) million.

Key figures

Fiscal year ended December 31, 2023

Revenue

$9.7B

Operating income

$1.3B

Net income

$815M

EPS

$4.53

Gross profit

$2.9B

Operating cash flow

$1.2B

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.