Berry Plastics Group (BERY) Tops Q1 EPS by 3c

Berry Plastics Group (NYSE: BERY) reported Q1 EPS of $0.67, $0.03 better than the analyst estimate of $0.64. Revenue for the quarter came in at $1.8 billion versus the consensus estimate of $1.79 billion.

Outlook

Given the completion of our Clopay acquisition and recent tax reform, we have increased our fiscal year 2018 cash flow from operations and adjusted free cash flow to $1,007 million and $630 million, respectively. Additionally, our fiscal 2018 capital spending and cash interest costs are forecasted to be $340 million and $250 million, respectively. Within our adjusted free cash flow guidance, we are also assuming a working capital use of $40 million and cash taxes to be $160 million, including the $37 million payment made in the first fiscal quarter under the Company’s tax receivable agreement, along with other cash uses of $50 million related to items such as acquisition integration expenses and costs to achieve synergies.

For earnings history and earnings-related data on Berry Plastics Group (BERY) click here.

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