Berry Plastics Group (NYSE: BERY) reported Q2 EPS of $0.84, $0.14 worse than the analyst estimate of $0.98. Revenue for the quarter came in at $1.95 billion versus the consensus estimate of $2.06 billion.

Outlook

Today we are reaffirming our fiscal year 2019 projected cash flow from operations of $1.04 billion and adjusted free cash flow of $670 million. Additionally, our fiscal 2019 capital spending and cash interest costs are unchanged and forecasted to be $350 million and $270 million, respectively. This guidance also includes the use of cash for working capital and other costs of $10 million, which is an improvement of $35 million from our prior earnings call to partially reflect the benefit of lower resin pricing. Additionally, we are reducing our cash taxes by $15 million, bringing our fiscal 2019 estimate to $150 million. The earnings reduction is primarily being driven by the slower start in our Engineered Materials and Health, Hygiene & Specialties segments along with an unfavorable impact from foreign currency exchange. These guidance assumptions all exclude the proposed acquisition of RPC.

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