ATLANTA - WestRock Company (NYSE:WRK), a leading provider of sustainable paper and packaging solutions, today announced results for its fiscal second quarter ended March 31, 2024.
Second Quarter Highlights and other notable items:
- Net sales of $4.73 billion
- Net income of $16 million, Adjusted Net Income of $101 million; net income included $81 million of restructuring and other costs, net
- Earnings of $0.06 per diluted share (“EPS”) and Adjusted EPS of $0.39
- Consolidated Adjusted EBITDA of $618 million
- Consumer Packaging Adjusted EBITDA margin increased 70 bps to 18.0%
- Achieved over $160 million in cost savings; expect to significantly exceed previously announced fiscal 2024 target of $300 to $400 million
“I’m proud of our team’s continued focus and execution, as we delivered strong results and made significant progress on our cost savings initiatives,” said David B. Sewell, chief executive officer. “We have already exceeded the midpoint of our targeted cost savings for fiscal 2024, and we expect further savings through the remainder of the year and beyond. Our efforts are better positioning us to compete in the market and making us a more efficient company. Together with our scale and innovative, sustainable packaging solutions, WestRock is well positioned to capture share and drive long-term earnings growth.”
Source: WestRock
