Record-Breaking Quarter and Financial Performance
Achieved record highs in operating profit, operating margin, earnings per share, and operating cash flow for the full year 2024 despite market headwinds. The adjusted operating margin was 13.4%, and operating cash flow was $420 million for Q4.
Strong Shareholder Returns
Returned over $770 million to shareholders in 2024 through dividends and share buybacks. The number of outstanding shares was reduced by over 12% since the current stock repurchase program began in 2022.
Improved Efficiency and Cost Control
Reduced indirect workforce by 1,400 and direct headcount by 4,500, enhancing operating efficiency. Achieved $57 million in operational improvements in Q4 driven by cost control and improved calloff accuracy.
Growth in Asian Markets
Strong performance and market position in Asia, with significant growth from Chinese and Indian OEMs. The content per vehicle in India is expected to rise significantly in 2025.