Published on 2 Feb 2024 on GuruFocus.com via Yahoo Finance
WestRock Co (WRK) Reports Fiscal Q1 2024 Results Amidst Market Challenges
Net Sales: Decreased to $4.6 billion from $4.9 billion in the prior year quarter.Net Loss: Reported a net loss of $22 million, including $66 million of restructuring and other costs.Adjusted EBITDA: Consolidated Adjusted EBITDA stood at $571 million, down 12.5% year-over-year.Cost Savings: Achieved over $200 million, with expectations to exceed the fiscal 2024 target of $300 to $400 million.Corrugated Packaging: Segment sales increased by 3.5%, with Adjusted EBITDA margin at 13.5%.Consumer Packaging: Adjusted EBITDA margin improved by 60 basis points to 15.7%.Global Paper: Segment faced a decrease in sales and Adjusted EBITDA margin, reflecting lower demand and selling price/mix.
Warning! GuruFocus has detected 9 Warning Signs with WRK.
On February 1, 2024, WestRock Co (NYSE:WRK), a leader in sustainable paper and packaging solutions, released its 8-K filing, detailing the financial outcomes for the first quarter of fiscal year 2024, which ended on December 31, 2023. The company, known for its extensive range of corrugated and consumer packaging products, faced a challenging quarter with net sales falling to $4.6 billion, a decrease from the $4.9 billion reported in the same quarter of the previous year.