Net sales were $4.62 billion, an increase of $603 million compared to the prior year quarter, primarily attributable to $599 million of increased Corrugated Packaging segment net sales (mainly due to the acquisition of KapStone Paper and Packaging Corporation, higher selling price/mix across the segment and strength in the North American container business. Net sales, adjusted to exclude recycling net sales in the prior year quarter for comparability, increased $713 million.
The Corrugated Packaging segment delivered a Segment EBITDA margin of 18.5% and a North American Adjusted Segment EBITDA margin of 20.4%, an increase of 10 basis points and 40 basis points, respectively, compared to the prior year quarter.
“Our WestRock team delivered outstanding results in the second fiscal quarter,” said CEO Steve Voorhees. “We’re responding to changing market conditions by focusing on organic growth opportunities, maintaining a focus on productivity, operational excellence and debt reduction, while continuing to return cash to stockholders.”
Net cash provided by operating activities was $362 million in the second quarter of fiscal 2019 compared to $228 million in the prior year quarter. Total debt was $10.80 billion at March 31, 2019, or $10.55 billion excluding $243 million of non-cash acquisition related step-up.