Cott misses by $0.09, beats on revs (15.40)
- Reports Q2 (Jun) adj. earnings of $0.06 per share, $0.09 worse thanthe Capital IQ Consensus of $0.15; revenues rose 32.5% year/year to $1.01 bln vs the $0.98 bln Capital IQ Consensus (35% on a foreign exchange neutral basis) driven primarily by the additions of S&D Coffee and Tea ("S&D") and Eden Springs ("Eden") as well as growth at DS Services, offset in part by the adverse foreign exchange impact and mix shift within the traditional business.
Assuming that the sale of our traditional manufacturing business closes as expected, we are targeting full year 2019 cash flow provided by operations of approximately $265 to $270 million and capital expenditures of $115 to $120 million, resulting in adjusted free cash flow of approximately $150 million (when excluding acquisition, integration and other cash costs).