Westrock Q1 Report 2024

Highlights

• Net sales of $4.6 billion; Corrugated Packaging segment sales increased 3.5% compared to the prior year quarter
• Global Paper containerboard shipments increased 21.9% compared to the prior year quarter
• Net loss of $22 million, Adjusted Net Income of $51 million; net loss included $66 million of restructuring and other costs, net
• Loss of $0.09 per diluted share (“EPS”) and earned $0.20 of Adjusted EPS
• Consolidated Adjusted EBITDA of $571 million
• Consumer Packaging Adjusted EBITDA margin increased 60 bps to 15.7%
• Achieved over $200 million in cost savings; expect to significantly exceed previously announced fiscal 2024 target of $300 to $400 million