Adjusted EBITDA totaled $103 million in the fourth quarter compared with $117 million in the same prior year period. The year-over-year reduction in adjusted EBITDA resulted principally from lower revenues and higher levels of investment on data and technology capabilities, partially offset by cost management benefits. PIRM segment adjusted EBITDA totaled $41 million compared to $50 million in 2017. UWS adjusted EBITDA was $71 million, in-line with the prior year total of $72 million.

Liquidity and Capital Resources

At December 31, 2018, the Company had cash and cash equivalents of $85 million compared with $119 million at December 31, 2017. Total debt as of December 31, 2018 was $1,797 million compared with $1,777 million as of December 31, 2017. As of December 31, 2018, the Company had available capacity on its revolving credit facility of $522 million. During 2018, the Company made $90 million in voluntary principal payments against its outstanding term loan obligations.

Net operating cash provided by continuing operations for the year ended December 31, 2018 was $355 million. Free cash flow ("FCF") for the year ended December 31, 2018 totaled $258 million, which represented 52% of adjusted EBITDA.

In 2018, the Company repurchased 2.3 million of its common shares for $109 million. In line with its strategy of growing its platform, insurance and international revenues, during the fourth quarter of 2018 the Company purchased HomeVisit and the remaining interest in Symbility.

2019 Full Year Financial Guidance and Assumptions

2019 guidance ranges for revenues, adjusted EBITDA and adjusted EPS are as follows:

• Revenue of $1.620 to $1.680 billion,
• Adjusted EBITDA of $450 to $480 million, and
• Adjusted EPS of $2.25 to $2.55.

The Company’s 2019 guidance ranges are based on the following key estimates and assumptions:

• U.S. mortgage loan origination unit volumes expected to decline approximately 5% from 2018 levels,
• Realized savings totaling $20 million from ongoing cost management and productivity programs,
• Foreign currency translation is expected to reduce reported revenues and adjusted EBITDA by approximately $10 million and $4 million, respectively,
• 2019 tax planning rate of 25%, and
• Repurchase of approximately 2-3% of outstanding common shares.

The Company’s previously announced acceleration of its AMC transformation program and the wind-down of certain non-core software units are expected to reduce UWS and total revenues $70 to $100 million during 2019. The corresponding reduction of 2019 adjusted EBITDA is expected to range from $10 million to $15 million. We may incur additional cash and non-cash charges as these programs are actioned.

In connection with the Company's previously announced adjusted EBITDA margin enhancement program (designed to reach a 30% target level in 2020), we intend to incur discrete charges of approximately $15 million over the course of 2019. These investments will increase the operating efficiency and accelerate the transformation of certain technology and data platforms. Consistent with past practice, these charges will be reflected in the company’s GAAP financial results and will be excluded from adjusted EBITDA and adjusted EPS metrics which are non-GAAP measures.

Our full year 2018 financial results included the benefit from accelerated revenue recognition of approximately $23 million resulting from the amendment of a long-term contract which is not expected to repeat in 2019.

Teleconference/Webcast

CoreLogic management will host a live webcast and conference call on Wednesday, February 27, 2019, at 8:00 a.m. Pacific time (11:00 a.m. Eastern Time) to discuss these results. All interested parties are invited to listen to the event via webcast on the CoreLogic website at http://investor.corelogic.com. Alternatively, participants may use the following dial-in numbers: 1-888-220-8451 for U.S./Canada callers or 1-786-789-4776 for international callers using confirmation code 1070297.

A replay of the webcast will be available on the CoreLogic investor website for 10 days and also through the conference call number 1-888-203-1112 for U.S./Canada participants or 1-719-457-0820 for international participants using Conference ID 1070297.

About CoreLogic

CoreLogic (NYSE: CLGX) is a leading global property information, analytics and data-enabled solutions provider. The Company's combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, and the public sector. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed solutions. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. Headquartered in Irvine, Calif., CoreLogic operates in North America, Western Europe and Asia Pacific. For more information, please visit www.corelogic.com .