Cott Corp. (COT) Tops Q3 EPS by 2c; Updates on FY16 FX, FCF Outlook

November 10, 2016 7:32 AM EST

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Cott Corp. (NYSE: COT) reported Q3 EPS of $0.09, $0.02 better than the analyst estimate of $0.07. Revenue for the quarter came in at $885.1 million versus the consensus estimate of $873.94 million.

2016 FULL YEAR FOREIGN EXCHANGE AND FREE CASH FLOW OUTLOOK

Based upon the immediate post-Brexit USDGBP and EURGBP exchange rates, we previously estimated that the adverse translational and transactional foreign exchange impact on 2016 EBITDA would be $15 to $18 million. As of the date of this release, we expect that the adverse foreign exchange impact on 2016 EBITDA will be $18 to $19 million.

Based on current USDGBP and EURGBP exchange rates and the 2017 forecasts of various major financial institutions, we expect the adverse impact on full year 2017 EBITDA to be $12 to $18 million.

Cott has targeted full year 2016 cash flow from operations of approximately $275 to $280 million and capital expenditures in the range of $135 to $140 million, resulting in adjusted free cash flow of $135 to $145 million (when excluding acquisition, integration and transaction costs) as the part year free cash flow contribution from Eden and S&D is expected to more than offset the further devaluation of the British Pound.

For earnings history and earnings-related data on Cott Corp. (COT) click here.



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