MAHRT

WestRock Reports Fiscal 2023 Second Quarter Results; Transformation Progressing Well

Retrieved on: 
Thursday, May 4, 2023
Packaging, Other Natural Resources, Forest Products, Manufacturing, Natural Resources, Other Manufacturing, S.A, WestRock, Panama City, Public expenditure, Distribution, Consumer, Adjustment, Corrugated fiberboard, Bookkeeping, Cryptocurrency, Security (finance), Corrugated

The net loss in the second quarter of fiscal 2023 was primarily due to the $1.9 billion pre-tax, non-cash goodwill impairment and higher restructuring and other costs.

Key Points: 
  • The net loss in the second quarter of fiscal 2023 was primarily due to the $1.9 billion pre-tax, non-cash goodwill impairment and higher restructuring and other costs.
  • During the second quarter of fiscal 2023 we recorded a $1.9 billion pre-tax, non-cash goodwill impairment (or $1.8 billion after-tax); $1.4 million in Global Paper and $514 million in our Corrugated Packaging reportable segment.
  • Net cash provided by operating activities was $284 million in the second quarter of fiscal 2023 compared to $390 million in the prior year quarter primarily due to lower earnings.
  • During the second quarter of fiscal 2023, WestRock invested $282 million in capital expenditures and returned $70 million in capital to stockholders in dividend payments.

WestRock Reports Fiscal 2023 First Quarter Results

Retrieved on: 
Wednesday, February 1, 2023
Forest Products, Packaging, Natural Resources, Manufacturing, WestRock, Public expenditure, Sale, URB, Consumer, Acquisition, Adjustment, Corrugated, Consumer Packaging and Labeling Act, Corrugated fiberboard, Bookkeeping, Retail

Restructuring and other costs during the first quarter of fiscal 2023 were $33 million.

Key Points: 
  • Restructuring and other costs during the first quarter of fiscal 2023 were $33 million.
  • Net cash provided by operating activities was $266 million in the first quarter of fiscal 2023 compared to $253 million in the prior year quarter.
  • During the first quarter of fiscal 2023, WestRock invested $282 million in capital expenditures and returned $70 million in capital to stockholders in dividend payments.
  • Due to the timing of the Grupo Gondi acquisition, it was not practicable to allocate its results to our operating segments for the first quarter of fiscal 2023.