Berry Plastics Group (NYSE: BERY) reported Q4 EPS of $0.90, $0.03 better than the analyst estimate of $0.87. Revenue for the quarter came in at $2.1 billion versus the consensus estimate of $2.03 billion.

Outlook

We anticipate our fiscal year 2019 cash flow from operations and adjusted free cash flow to be $1.04 billion and $670 million, respectively. Our estimate assumes constant currency rates from the end of fiscal 2018 and a normal inflationary environment on our costs. Additionally, our fiscal 2019 capital spending and cash interest costs are forecasted to be $350 million and $270 million, respectively. Within our adjusted free cash flow guidance, we are also assuming cash taxes to be $165 million in fiscal 2019, including a $16 million payment in the first fiscal quarter under the Company’s tax receivable agreement, along with working capital and other cash uses of $45 million.

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