Not a ton of info in this one:

1) This year was tougher than they thought. Will still make >5 Billion profit for the 5th year in a row.

2) They think next year will be better

3) Cap Ex was focused on infrastructure this year. 2019 Cap Ex will be focused on technology. (For the pax)

4) Still breaking records for performance and record pax carried.

5) Still espousing the virtues of stock buybacks and returns to shareholders. Plenty of talk about getting the stock price higher.

6) They accomplished a flat cost increase for second half of year, which was their goal. (Most divisions have felt these cost pressures in the face of billion dollar profits) Leadership is determined to cut and “drive efficiency” until margins expand.