The stock plummets by nearly 30% after announcing Q4 and full-year 2023 results.

The group reported Q4 net sales of $2.082 billion, up 3% on Q4 2022 net sales of $2.021 billion.

The group reported 14-week Q4 2023 net income of $181 million, or $2.29 per diluted share.

Adjusted net income was $203 million, or $2.47 per diluted share, and adjusted operating income was $280 million.

The group reported net sales of $6.182 billion for fiscal 2023, down 3% on net sales of $6.344 billion in fiscal 2022.

For the full year 2023, net income was $109 million, or $1.39 per 53-week diluted share. This compares with net earnings of $348 million, or $4.14 per diluted share for the 52-week fiscal year 2022.

Excluding the impact of specific items, adjusted net income for fiscal 2023 was $178 million, or $2.27 per diluted share.


Copyright (c) 2024 CercleFinance.com. All rights reserved.