WestRock Company

BBG009CGQPV3

Equity

ISIN US96145D1054 / Valor 28580720

New York Stock Exchange, Inc (2024-07-05)

USD 51.51+3.54%

WestRock Company
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About company

WestRock Company stands as a prominent player in the sustainable, fiber-based packaging industry, catering to a diverse range of sectors including food, beverage, home, beauty, and health through its innovative folding cartons and specialty packaging solutions. With a workforce of approximately 58,000 employees and operations spanning over 300 production facilities worldwide, WestRock emphasizes its commitment to leveraging science and technology to foster packaging innovation. The company's extensive portfolio is further enriched by its involvement in the production and commercialization of paperboard and containerboard, underlining its pivotal role in the global supply chain of packaging materials. A notable achievement in its pursuit of sustainability and innovation is the development of CanCollar, a recyclable paperboard-based multipack solution for cans, showcasing WestRock's dedication to creating environmentally friendly packaging alternatives. Through a unified approach, WestRock aims to address the business and sustainability objectives of its clients, reinforcing its position as a leader in the packaging industry.

Summarized from source with an LLMView SourceSector: Non-Energy Materials

Net Sales

WestRock Company reported net sales of $4.73 billion for the second quarter of fiscal 2024, which ended on March 31, 2024. This represents a decrease from the $5.28 billion reported in the same quarter of the previous year. The decline was primarily driven by lower selling prices and softer volumes across various segments.

Net Income

For the second quarter of fiscal 2024, WestRock Company reported a net income of $16 million. This is a significant improvement compared to a net loss of $2.01 billion in the same quarter of the previous year, which was impacted by a $1.9 billion pre-tax, non-cash goodwill impairment and higher restructuring costs.

Adjusted EBITDA

WestRock Company's consolidated Adjusted EBITDA for the second quarter of fiscal 2024 was $618 million, down from $789 million in the same quarter of the previous year. The decrease was primarily due to lower Adjusted EBITDA across all segments, driven by lower selling prices and volumes.

Cost Savings

WestRock Company achieved over $160 million in cost savings during the second quarter of fiscal 2024. The company expects to significantly exceed its previously announced fiscal 2024 target of $300 to $400 million in cost savings, positioning it better to compete in the market and drive long-term earnings growth.

Dividends and Capital Expenditures

During the second quarter of fiscal 2024, WestRock Company returned $78 million to stockholders in dividend payments and invested $301 million in capital expenditures. The company had approximately $3.0 billion of available liquidity from long-term committed credit facilities and cash and cash equivalents as of March 31, 2024.

Summarized from source with an LLMView Source

Key figures

81.4%1Y

-2.26%3Y

35.3%5Y

Performance

26.4%1Y

32.6%3Y

41.8%5Y

Volatility