Westrock Reports Mixed Q4 Results

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  • Westrock Co WRK reported fourth-quarter FY22 sales growth of 6.1% year-on-year to $5.40 billion, missing the consensus of $5.47 billion.
  • Corrugated Packaging segment revenue rose 8.3% Y/Y, Consumer Packaging segment increased 12.7%, and Global Paper segment decreased 2.3%.
  • Gross profit gained 6.3% Y/Y to $1.1 billion with a gross margin of 19.6%.
  • The operating margin was 8.5%, and operating income for the quarter fell 2.2% to $458.4 million.
  • The company held $260.2 million in cash and equivalents as of September 30, 2022.
  • Adjusted EBITDA of $920 million increased 4.8% Y/Y.
  • Adjusted EPS of $1.43 beat the analyst consensus of $1.41.
  • Price Action: WRK shares are trading higher by 6.69% at $36.85 on the last check Thursday.
  • Photo Via Company
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