Westrock Q3 Report 2023

WestRock Company, a leading provider of sustainable paper and packaging solutions, today announced results for its fiscal third quarter ended June 30, 2023.

Highlights

• Net sales of $5.121 billion
• Net income of $202 million, Adjusted Net Income of $229 million
• Earned $0.79 per diluted share (“EPS”) and $0.89 of Adjusted EPS
• Consolidated Adjusted EBITDA of $802 million; Corrugated Packaging segment Adjusted EBITDA increased 11.6% year-over-year
• Results negatively impacted by $89 million due to economic downtime and a $39 million increase in non-cash pension costs year-over-year; WestRock’s U.S. qualified and non-qualified pension plans remain overfunded
• Exceeding cost savings expectations in fiscal 2023 compared to fiscal 2022, on track to exit fiscal 2023 with greater than $450 million in run-rate savings