Bemis sees Q1 adjusted EPS 50c-56c, consensus 54c While Bemis expects all production consolidation efforts to be completed by the end of the first quarter, accounting charges associated with closed facilities may continue through at least the second quarter of 2013.
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Bemis narrows FY14 EPS view to $2.45-$2.55 from $2.40-$2.55 Consensus $2.48. This includes an anticipated effective income tax rate for 2014 of approximately 34.5 percent. Management expects cash flow from operations for 2014 to be approximately $450 million. This revised expectation reflects cash expenses associated with the May 2014 closure of a manufacturing plant in Stow, Ohio and tax payments related to the gain on the sale of the Paper Packaging division. Management expects its total year 2014 capital expenditures to be approximately $175 million.