Fourth Quarter and Full Year 2018 Highlights:

  • Operating cash flow of $415 million in the quarter increases $564 million year-over-year, or $83 million year-over-year on an adjusted basis.

  • Operating cash flow of $1.14 billion for the full year exceeds guidance and increases $1.32 billion year-over-year, or $168 million year-over-year on an adjusted basis.

  • GAAP EPS from continuing operations of $0.56 in the quarter, an increase of $1.34 year-over-year; prior year included a $400 million charge associated with the enactment of U.S. tax reform.

  • Adjusted EPS of $1.14 in the quarter, an increase of $0.11 year-over-year.

  • Adjusted operating margin of 16.1 percent in the quarter expands 180 basis points year-over-year.

  • Returned $969 million to shareholders in the form of share repurchases and dividends for the full year.

  • Announcing 2019 full year guidance that includes delivering operating cash flow of $1.15 to $1.25 billion and free cash flow of $1.0 to $1.1 billion.

  • 2019 full year guidance also includes expanding adjusted operating margin between 100 and 150 basis points year-over-year, as well as earnings growth that results in GAAP EPS of $2.60 to $2.70 and adjusted EPS of $3.70 to $3.80.

  • Board approves incremental share repurchase authority of $1.0 billion; company expects at least $300 million of share repurchases in 2019.

News Release Related Earnings Documents Webcast and Multimedia
(PDF, 923KB)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(PDF, 654KB)
 
(PDF, 499KB)
 
(PDF, 254KB)
 
(PDF, 198KB)
 
 
 
(PDF, 252KB)