Investor Overview - Q3 2023
2023 Outlook
Expanding the Sphere of What We Can Control
Strong momentum across all operating segments
•
Continue to invest for the future
.
Multiple levers to manage margins
•
Excluding discrete headwinds, implied 2023 free
cash flow conversion ratio (a) is within target range
External Factors Impacting Outlook
.
• Inflation and macroeconomic uncertainty
• Volatile interest rate and currency environment
2023 Outlook
10% to 11%
Organic Revenues (a)
13% to 14%
Comparable
Currency Neutral
Earnings Per Share(a)
Comparable Earnings
7% to 8%
Per Share (a)
~$9.5B
Free Cash Flow(a)
Note: 2023 free cash flow (non-GAAP) outlook does not include any potential payments related to our ongoing tax litigation with the U.S. Internal Revenue Service
(a) Non-GAAP
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