WestRock Reports Positive Fiscal 2023 Q1 Results

WestRock Company
February 1, 2023
Category: Finance & Economics
Region: United States, US East

ATLANTA — WestRock, a provider of sustainable paper and packaging solutions, announced results for its fiscal first quarter ended December 31, 2022. First quarter highlights include: net sales of $4.9 billion comparable year-over-year; net income of $45 million, adjusted Net Income of $141 million; consolidated Adjusted EBITDA of $652 million. …Results in the current year were impacted by $119 million due to economic downtime and weather disruptions; additionally, non-cash pension costs increased $40 million year-over-year and the unfavorable impact of foreign currency was $17 million year-over-year. Acquired the remaining 67.7% interest in Gondi, S.A. de C.V. for $970 million, plus the assumption of debt, and Divested two uncoated recycled paperboard mills for $50 million.

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