WestRock Reports Fiscal 2023 First Quarter Results

Results for its fiscal first quarter ended December 31, 2022.

Corrugated Packaging segment sales increased $15 million, or 0.7%, primarily due to higher selling price/mix that was largely offset by lower volumes.

Corrugated Packaging Adjusted EBITDA increased $20 million, or 7.0%, primarily due to the margin impact from higher selling price/mix, that was largely offset by increased net cost inflation, lower volumes and higher operating costs, including economic downtime.

Consumer Packaging segment sales increased $76 million, or 6.7%, primarily due to higher selling price/mix that was partially offset by the unfavorable impact of foreign currency.

Consumer Packaging Adjusted EBITDA increased $14 million, or 8.3%, primarily due to the margin impact from higher selling price/mix that was largely offset by increased net cost inflation, higher operating costs, the unfavorable impact of foreign currency and increased non-cash pension costs.