Crown Holdings Inc (CCK) Q4 2019 Earnings Call Transcript

Crown Holdings Inc (CCK) Q4 2019 Earnings Call Transcript

Good morning and welcome to Crown Holdings' Fourth Quarter 2019 Conference call.. I would now like to turn the call over to Mr. Thomas Kelly, Senior Vice President and Chief Financial Officer.. With me on today's call is Tim Donahue, President and Chief Executive Officer.. Net sales in the quarter were up 2% versus prior year, primarily due to 7% beverage can unit volume growth.. Segment income in the quarter was up 2% as improvements in both Asia -- both Americas and Europe beverage were offset by lower results in European food and Transit Packaging.. As outlined in the release, we estimate full year 2020 adjusted earnings of between $5.40 and $5.60 per share.. The estimates assume exchange rates remain at their current levels and a full year tax rate of between 24% and 25%.. We currently estimate 2020 full year adjusted free cash flow of approximately $600 million -- approximately $600 million in capital spending.. As reflected in last night's release, overall fourth quarter performance was as expected and compared to the prior year period was a bit mixed across the operating segments.. Unit volume demand for beverage cans remained strong with our global volumes up 7% in the