Q3 2024 Financial Results
Reported October 28, 2024 | Fiscal Year 2024 | (USD in billions, unless otherwise stated)
Total Revenue
$24.1B
▲ 14.2% YoY
Net Income
$4.82B
▲ 8.7% YoY
Diluted EPS
$1.42
▲ 10.3% YoY
Operating Margin
21.4%
▲ 120 bps
Free Cash Flow
$5.1B
▲ 18.5% YoY
Adjusted EBITDA
$7.6B
▲ 11.1% YoY
Management Commentary
"Free cash flow conversion reached 62%, up from 58% in Q3 2023. Our balance sheet remains robust with a net leverage ratio of 1.4x. We are returning $1.2B to shareholders this quarter via dividends and share repurchases, reaffirming our commitment to capital discipline and sustainable growth."
Marcus Thorne
Chief Financial Officer
Condensed Consolidated Statements
| Three Months Ended Sept 30 | 2024 | 2023 | YoY Δ |
|---|---|---|---|
| Revenue | 24.10 | 21.11 | 14.2% |
| Cost of Revenue | (12.45) | (11.38) | 9.4% |
| Gross Profit | 11.65 | 9.73 | 19.7% |
| Operating Expenses | (6.54) | (6.12) | 6.9% |
| Operating Income | 5.11 | 3.61 | 41.6% |
| Interest & Other | (0.42) | (0.38) | 10.5% |
| Net Income | 4.82 | 4.43 | 8.7% |
| Diluted EPS | 1.42 | 1.28 | 10.3% |
Balance Sheet & Cash Flow Highlights
| Key Metrics | Q3 2024 | Q2 2024 | Q3 2023 |
|---|---|---|---|
| Cash & Equivalents | 18.4B | 16.2B | 14.8B |
| Total Debt (Gross) | 22.1B | 23.5B | 24.0B |
| Net Debt | 3.7B | 7.3B | 9.2B |
| Capital Expenditures | (2.1B) | (1.8B) | (1.6B) |
| Free Cash Flow | 5.1B | 4.4B | 4.3B |
| Dividends Paid | 0.6B | 0.6B | 0.5B |
| Share Repurchases | 0.6B | 0.5B | 0.4B |
📅 Earnings Call & Webcast
- Call Date & Time
- Live Webcast Watch Replay →
- Audio Replay Listen Now →
- Transcript Read Full Text →
📥 SEC Filings & Downloads
- Q3 2024 10-Q Filing Download PDF →
- Investor Presentation Download PPTX →
- Financial Tables (Excel) Download XLSX →
- Press Release View Release →
FY2024 Guidance Outlook
Based on Q3 execution and current market conditions, Aevum Zenth reaffirms its full-year 2024 guidance range:
- Revenue$92.0B – $94.5B
- Adjusted EPS$5.50 – $5.75
- Operating Margin20.5% – 21.5%
* Guidance excludes potential impacts from announced strategic divestitures and assumes stable FX rates vs. baseline.
Forward-Looking Statements
This page contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that could cause actual results to differ materially from those projected. Factors include macroeconomic conditions, regulatory changes, competitive pressures, and integration risks from M&A. Aevum Zenth Conglomerate assumes no obligation to update these statements except as required by law. Past performance is not indicative of future results. Please refer to our SEC filings for complete risk disclosures.
"Q3 results reflect disciplined execution across our diversified portfolio. Strong demand in our Digital Systems and Aerospace divisions drove revenue growth above consensus, while operational efficiencies in Energy & Power expanded margins by 120 basis points year-over-year. We remain focused on capital deployment, strategic M&A, and our FY2024 guidance trajectory."