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Had net sales of $4.42 billion, an increase of 2.2% compared to the 1Q 2020, and generated net cash of $431 million compared to $303 million in 1Q 2020.
February 3, 2020
By: DAVID SAVASTANO
Contributing Editor, Coatings World and Ink World
WestRock Company announced results for its fiscal first quarter ended Dec. 31, 2019. Notable items in the first quarter of fiscal 2020 included net sales of $4.42 billion, an increase of 2.2% compared to the prior year quarter. WesteRock earned $0.53 per diluted share and $0.58 of adjusted earnings per diluted share compared to $0.54 per diluted share and $0.83 of adjusted earnings per diluted share in the prior year quarter. The company generated net cash provided by operating activities of $431 million compared to $303 million in the prior year quarter. Total debt was $10.21 billion at Dec. 31, 2019, or $9.99 billion excluding $223 million of unamortized fair market value step-up of debt acquired in mergers and acquisitions. “We continue to execute our strategy to be the leading provider of differentiated paper and packag-ing solutions for our customers,” said CEO Steve Voorhees. “We achieved our guidance for the first quarter and remain focused on organic growth, productivity, free cash flow generation and debt reduction.”
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