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NewsHome > News >

WestRock Reports Outstanding Results for Q2 Fiscal 2019

Time:2019-05-06 15:27 Author:Suny Group

WestRock Company, the leading provider of paper and packaging solutions has announced results for its fiscal 2019 second quarter. The company delivered outstanding results for the quarter ending March 31, 2019.

According to company press release, it recorded net earnings of $0.62 per diluted share and adjusted earnings of $0.80 per diluted share. The net sales increased by $603 million upon comparison with the prior year quarter.

The Corrugated Packaging segment delivered a segment EBITDA margin of 18.5%, an increase of 10 basis points over the previous year. The North American box shipments surged higher significantly by over 20% on a per day basis. The segment income recorded notable increase by $48 million, primarily due to contributions by acquired Kapstone operations, higher selling price/mix, despite negative factors including raw material cost inflation, lower volumes and economic downtime.

The Consumer Packaging segment net sales recorded an increase of $31 million, mainly on account of higher selling price/mix, higher volumes and benefits from acquisitions. Meanwhile, the segment income recorded a decline of $9 million.

Steve Voorhees, chief executive officer congratulated the WestRock team on delivering outstanding quarterly results. The diverse portfolio and various other favorable factors will help the company respond successfully to changing market conditions, thereby creating long-term value for its customers and shareholders, he said.

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