WestRock Half-Year Report 2023

WestRock Company, a leading provider of sustainable paper and packaging solutions, today announced results for its fiscal second quarter ended March 31, 2023.

Highlights

• Net sales of $5.3 billion
• Net loss of $2.0 billion, included a $1.9 billion pre-tax, non-cash goodwill impairment and $445 million of pre-tax restructuring and other costs; Adjusted Net Income of $198 million
• Simplifying our portfolio to streamline our business, improve performance and deliver best-in-class returns
• Consolidated Adjusted EBITDA of $789 million; Corrugated Packaging and Consumer Packaging segments Adjusted EBITDA increased 24.0% and 6.2% year-over-year, respectively
• Results negatively impacted by $58 million due to economic downtime, as well as a $40 million increase in non-cash pension costs year-over-year; our U.S. qualified and non-qualified pension plans remain overfunded
• Loss per diluted share of $7.85 and Adjusted Earnings per Diluted Share of $0.77