This compares to 2022 standalone adjusted EPS of $3.38. Sees FY23: Organic revenue growth in the range of 5% to 7% year-over-year. Adjusted EBIT margin in the range of 15.0% to 15.5%, reflecting an expansion of 50 to 100 basis points versus 2022 Standalone Adjusted EBIT margin of 14.5%. Adjusted effective tax rate in the range of 23% to 25%. Free cash flow conversion of 85% or more for the full year. The company’s cash flow outlook assumes that the legislation requiring R&D capitalization for tax purposes is repealed or deferred beyond 2023. The Free cash flow impact of this legislation is approximately 10 points of Free cash flow conversion for the year.
Published first on TheFly
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