The company said fourth-quarter net sales for Q4 2023 rose 6.3% to $1.940 billion (6.1% on a constant currency basis), and full-year net sales rose 6.5% to $7.394 billion (7.5% on a constant currency basis).

1. 01

   The company said fourth-quarter net sales for Q4 2023 rose 6.3% to $1.940 billion (6.1% on a constant currency basis), and full-year net sales rose 6.5% to $7.394 billion (7.5% on a constant currency basis).

2. 02

   The company said net earnings for Q4 were $419.2 million ($458.1 million on an adjusted basis), and full-year net earnings were $1.024 billion ($1.584 billion on an adjusted basis). It said full-year diluted earnings per share were $4.88, and adjusted diluted earnings per share were $7.55.

3. 03

   The company provided full-year 2024 guidance, projecting reported revenue change of 4.5% to 5.5%, constant currency revenue change of 5.0% to 6.0%, and adjusted diluted EPS of $8.00 to $8.15. It expects a foreign currency exchange impact of (0.5)%.

4. 04

   The company said it started a global restructuring program in late 2023 and expects approximately $200 million in annual run rate cost savings as it exits 2025. It also said it completed a $500 million share buyback program in January 2024.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the opening part of the filing body and confirmed exhibits, within a length limit. 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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