Westrock Full-Year Report 2023

Highlights:

• Net sales of $20.3 billion
• Net loss of $1.6 billion, Adjusted Net Income of $778 million
• Results reflected a $1.9 billion pre-tax, non-cash goodwill impairment and $859 million ($605 million of which was non-cash) of pre-tax restructuring and other costs, net
• Consolidated Adjusted EBITDA of $3.0 billion
• Loss per share of $6.44 and generated $3.02 of Adjusted EPS
• Generated net cash provided by operating activities of $1.8 billion and Adjusted Free Cash Flow of $933 million
• Exceeded cost savings expectations in fiscal 2023, and exited fiscal 2023 with greater than $450 million in run-rate savings
• Invested $1.1 billion in capital expenditures and returned $281 million in capital to stockholders in dividend payments.
• Simplified the Company’s portfolio to streamline its business and improve performance