WestRock Income Soared in Third Fiscal Quarter

It reduced total debt and adjusted net debt by $270 million and $482 million respectively.

SEATTLE (Scrap Monster): WestRock Company announced results for its fiscal third quarter ended June 30, 2021.

The company reported record net sales of $4.8 billion, higher by 14% compared to the prior year quarter. The net income of $250 million was up significantly by 40% compared to $179 million in the prior year quarter. The adjusted segmented EBITDA increased by 15% year-on-year from $708 million to $811 million. The earnings per diluted share and adjusted earnings per diluted share stood at $0.93 and $1.00 respectively.

WestRock generated net cash provided by operating activities of $751 million and adjusted free cash flow of $554 million compared to $740 million and $508 million, respectively, in the prior year quarter. It reduced total debt and adjusted net debt by $270 million and $482 million respectively.

The North American per day box shipments surged higher by 9% compared with the prior year quarter to hit record levels.

Commenting on the results, David B. Sewell, chief executive officer, WestRock Company said that the company delivered excellent results in the third fiscal quarter, with record revenue and North American box shipments. The company witnessed strong demand for our products and solutions across our targeted end markets, he added.

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