Berry Plastics Group (NYSE: BERY) reported Q4 EPS of $0.87, $0.07 better than the analyst estimate of $0.80. Revenue for the quarter came in at $1.9 billion versus the consensus estimate of $1.91 billion.

Outlook

We anticipate our fiscal year 2018 cash flow from operations and adjusted free cash flow to be $965 million and $610 million, respectively. Our estimate assumes flat working capital and volumes. Additionally, our capital spending and cash interest costs are forecasted to be $320 million and $250 million, respectively. Within our adjusted free cash flow guidance, we are also assuming cash taxes to be $210 million, including a $35 million payment in the first quarter under the Company’s tax receivable agreement, along with other cash uses of $40 million related to items such as acquisition integration expenses and costs to achieve synergies. These estimates and assumptions do not include our most recent definitive agreement to acquire Clopay.

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