08.05.21
WestRock Company announced results for its fiscal third quarter ended June 30, 2021.
Notable items in the third quarter include record net sales of $4.8 billion, up 14% compared to the prior year quarter, and net income of $250 million, an increase of 40% compared to $179 million in the prior year quarter.
Adjusted segment EBITDA of $811 million increased 15% compared to $708 million in the prior year quarter, while the company earned $0.93 per diluted share and $1.00 of adjusted earnings per diluted share, an increase of 35% and 32%, respectively, compared to $0.69 per diluted share and $0.76 in the prior year quarter.
WestRock successfully implementing published price increases across all major paper grades, as pricing realization outpaced inflation in the quarter. It generated net cash provided by operating activities of $751 million and adjusted free cash flow of $554 million compared to $740 million and $508 million, respectively, in the prior year quarter.
“We delivered excellent results in the third fiscal quarter, with record revenue and North American box shipments that drove a 35% year-over-year increase in diluted earnings per share” said CEO David B. Sewell.
Notable items in the third quarter include record net sales of $4.8 billion, up 14% compared to the prior year quarter, and net income of $250 million, an increase of 40% compared to $179 million in the prior year quarter.
Adjusted segment EBITDA of $811 million increased 15% compared to $708 million in the prior year quarter, while the company earned $0.93 per diluted share and $1.00 of adjusted earnings per diluted share, an increase of 35% and 32%, respectively, compared to $0.69 per diluted share and $0.76 in the prior year quarter.
WestRock successfully implementing published price increases across all major paper grades, as pricing realization outpaced inflation in the quarter. It generated net cash provided by operating activities of $751 million and adjusted free cash flow of $554 million compared to $740 million and $508 million, respectively, in the prior year quarter.
“We delivered excellent results in the third fiscal quarter, with record revenue and North American box shipments that drove a 35% year-over-year increase in diluted earnings per share” said CEO David B. Sewell.
