05.10.21
WestRock Company announced results for its fiscal second quarter ended March 31, 2021, featuring record second quarter North American per day box shipments up 5.5% compared to the prior year quarter.
Net sales of $4.4 billion were flat to the prior year quarter despite $189 million of lost sales due to the impact of the ransomware incident and winter weather.
“We have made a remarkable recovery from the incidents in the second quarter, and I want to thank our teammates for their dedication to our company and our customers,” said CEO David B. Sewell, chief executive officer. “With these events behind us, we are confident in our business and our ability to generate strong cash flow, which is evident by our dividend increase announced today. I look forward to what’s ahead for our company.”
During the second quarter of fiscal 2021, WestRock lost approximately 167,000 tons of containerboard and paperboard production due to the events. The impact on net sales and segment income from the lost sales and operational disruption during the quarter was $189 million and $80 million, respectively.
Net sales of $4.4 billion were flat to the prior year quarter despite $189 million of lost sales due to the impact of the ransomware incident and winter weather.
“We have made a remarkable recovery from the incidents in the second quarter, and I want to thank our teammates for their dedication to our company and our customers,” said CEO David B. Sewell, chief executive officer. “With these events behind us, we are confident in our business and our ability to generate strong cash flow, which is evident by our dividend increase announced today. I look forward to what’s ahead for our company.”
During the second quarter of fiscal 2021, WestRock lost approximately 167,000 tons of containerboard and paperboard production due to the events. The impact on net sales and segment income from the lost sales and operational disruption during the quarter was $189 million and $80 million, respectively.