West Rock Consolidated Adjusted EBITDA Exceeded $1 Billion

SEATTLE (Scrap Monster): WestRock Company announced results for its fiscal third quarter ended June 30, 2022.

The company reported record quarterly net sales of $5.5 billion, significantly higher by 14.6% over the prior year quarter. The net income increased by 51.1% year-on-year to total $378 million. The adjusted net income surged higher by 47.6% over the year to $396 million, said the company press release.

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WestRock posted record consolidated adjusted EBITDA of $1.006 billion, rising significantly by 24% year-on-year. The earnings per diluted share during the quarter was $1.47, while the adjusted earnings per share stood at $1.54.

Commenting on the results, David B. Sewell, chief executive officer stated that consolidated adjusted EBITDA in excess of $1 billion is a new record for the company. The results are indicative of the success of its transformation initiatives. Furthermore, he thanked the entire team for delivering the excellent results during the quarter.

The company noted that its intent to acquire the remaining interest in Grupo Gondi joint venture in Mexico will position us to grow in the attractive Latin American market. The broad portfolio and the geographic reach of the company positions it to manage through tough economic cycles and maximize shareholder value, it added.