WestRock North American Box Shipments Surged 2.2%

SEATTLE (Scrap Monster): WestRock Company announced results for its fourth quarter and full fiscal year that ended September 30, 2019.

The Q4 2019 earnings were $1.20 per diluted share, compared to $1.08 per diluted share in the prior year quarter. The full year earnings stood at $3.33 per diluted share, compared to $7.34 in the prior year. The recent acquisition of Kapstone Paper and Packaging Corporation boosted net sales by $415 million.

The Corrugated Packaging Segment net sales have increased by $482 million. The segment delivered EBITDA margin of 23.1%. On organic basis, the North American box shipments surged higher by 2.2%. The segment income has increased by $64 million. Meantime, the Consumer Packaging Segment net sales registered a decline of $41 million. The Segment EBITDA margin was 16.1%. The segment income has increased by $5 million.

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The net cash provided by operating activities for the quarter witnessed decline by $119 million.

Steve Voorhees, chief executive officer stated that the entire team executed well and delivered strong financial results for both the fourth quarter and the fiscal year. Moving forward into fiscal 2020, the company will continue to focus on organic growth. It will partner with customers in developing innovative and sustainable fibre-based packaging solutions. The uncertainty in macro-economic conditions is feared to impact the company’s performance in the forthcoming fiscal, he added.