The Company continues to expect strong organic growth for dispensing and metal container products in 2023 and is confirming its estimate of adjusted net income per diluted share for the full year of 2023 in the range of $3.95 to $4.15, as compared to record adjusted net income per diluted share for the full year of 2022 of $4.01 which included $0.09 per diluted share from non-recurring income associated with Russia. This estimate includes the unfavorable impact of higher interest expense of approximately $0.20 per diluted share versus the prior year and the delayed pass through of higher resin costs in the first half of 2023, which is expected to be recovered in the second half of the year. Adjusted net income per diluted share excludes certain items as outlined in Table C at the back of this press release.
The Company continues to expect interest expense before loss on early extinguishment of debt of approximately $155 million in 2023 and an effective tax rate for 2023 of approximately 24% to 25%.
The Company continues to expect free cash flow in 2023 of approximately $425 million as compared to $368.2 million in 2022. Free cash flow in 2023 is expected to benefit from strong operating performance and improvements in working capital, partially offset by higher interest payments as a result of higher interest rates. Capital expenditures are expected to be approximately $250 million in 2023.
