WestRock Reported Robust Results in Fiscal 2021

SEATTLE (Scrap Monster): Atlanta-headquartered WestRock Company announced results for its fourth quarter and year ended September 30, 2021.

The company reported record net sales of $5.1 billion, significantly higher by 14%, compared to $4.5 billion in the prior year quarter. The net income totalled $324 million, compared to net loss of $1,156 million a year before. The adjusted segment EBITDA of $878 million was up by 22% compared with $721 million a year before. The earnings per diluted share during the quarter were $1.20.

For the full fiscal year 2021, the net sales hit new record of $18.7 billion, higher by 7% compared to $17.6 billion during the prior year. The company reported net income of $838 million compared with net loss of $691 million in the prior year. The adjusted EBITDA rose by 7% from $2.8 billion to $3.0 billion.

David B. Sewell, chief executive officer, WestRock Company said that the team delivered strong results for the full fiscal year. The company successfully executed on its capital allocation priorities and is please to have reached its target net leverage ratio in the quarter. The company is well-positioned to partner with its customers to meet rising demand for sustainable, fiber-based packaging solutions, he added.

YOU MAY ALSO BE INTERESTED IN:

WestRock to Expand Operations at Claremont, N.C. Plant

WestRock Unveiled Innovative Alternatives to Single-Use Packaging