Shares of Xerox Corp. (XRX, Financial) jumped more than 10% on Tuesday after announcing fourth-quarter results. The company posted earnings of $1.14 per share on $2.53 billion in revenue, reflecting an 8% decline from the prior-year quarter. The company beat earnings estimatesby 10 cents, but fell $30 million short of revenue expectations.
The adjusted operating margin was 16.1%, an increase of 180 basis points year over year. For the full year, it was 12.9%, an increase of 20 basis points.
Moreover, Xerox returned $969 million to shareholders during the year in the form of dividends and share repurchases,Ă‚ representing 92%Ă‚ of its free cash flow.
Looking ahead to 2019, the company expects adjusted earnings per share in the range of $3.70 to $3.80. It also projects an adjusted operating margin between 12.6% and 13.1%.
Shares of Danaher Corp. (DHR, Financial) fell almost 1% on Tuesday after the company announced fourth-quarter earnings of $1.28 per share on $5.36 billion in revenue, a 5.3% year-over-year increase. The company fell 2 cents short of earnings estimates, but beat revenue expectations by $50 million.
"We are very pleased with our fourth-quarter results which wrapped up a tremendous 2018," President and CEO Thomas P. Joyce Jr. said. "During the year, we delivered strong revenue growth and operating margin expansion, leading to double-digit adjusted earnings per share and free cash flow growth. We believe we gained share in many of our businesses, driven by a combination of new product innovation and enhanced commercial execution."
Looking ahead to first-quarter 2019, Danaher expects diluted net earnings per share to be between 78 cents and 81 cents and non-GAAP adjusted diluted net earnings per share to range from $1 to $1.03. For the full year, the company projects diluted net earnings per share between $3.85 and $3.95 and non-GAAP adjusted diluted net earnings from $4.75 to $4.85 per share.
Shares of Pfizer Inc. (PFE, Financial) gained more than 2.5% after reporting fourth-quarter earnings of 64 cents per share on $13.98 billion in revenue, reflecting 2% year-over-year growth. The company managed to beat earnings estimates by 1 cent and revenue expectations by $80 million.
Looking ahead to 2019, the company expects revenue between $52 billion and $54 billion and adjusted diluted earnings in the range of $2.82 to $2.92 per share.
Disclosure:The author holds no positions in any stocks mentioned.
