They exceeded my targets for FCF and EPS in 4Q. As far as guidance I had about 3.2B in FCF which is in line with guidance. My new FCF # is slightly higher but not by much; it is 3.26B. My old leverage ratio for 2019 was 3.84, it's now 3.66 given debt will be retired more aggressively, 2019 EBITDA barely moved, it's at 9.02B. Revenue in line with my projection (They missed by 0.2%). Bottom line; no surprises
The model has been updated with 4Q results at:
The poll is now open for new fv opinions at:
The summary tab at the bottom of the table shows previous quarter trends (sure looks like capitulation to me).
Disclosure: I was in the market buying yesterday under 13.