Welcome to our dedicated page for WestRock Company news (Ticker: WRK), a resource for investors and traders seeking the latest updates and insights on WestRock Company stock.
WestRock Company (NYSE: WRK) specializes in consumer and corrugated packaging solutions, offering a competitive edge to its global clientele. With a diverse portfolio that includes beverage packs, pizza boxes, trigger sprayers, fragrance pumps, and paperboard, WestRock collaborates closely with customers to meet their unique packaging needs. Our commitment to continuous improvement ensures we remain an integral part of our customers' teams, striving for mutual success.
Formed through the merger of RockTenn and MeadWestvaco in 2015, WestRock has grown to become the largest North American producer of solid bleached sulfate and the second-largest producer of containerboard, essential for shipping containers. Our 42,000 employees across approximately 275 facilities in North America, South America, Europe, and Asia are dedicated to delivering innovative and reliable packaging solutions.
WestRock's recent achievements include strategic partnerships and cutting-edge projects designed to enhance our product offerings and meet evolving market demands. Financially, the company has demonstrated resilience and growth, driven by practical innovations and rigorous execution. Our commitment to sustainability and quality ensures we remain a leader in the packaging industry, achieving success with our customers, employees, and investors.
Dermody Properties has commenced the development of LogistiCenter℠ at Pleasant Prairie, a state-of-the-art logistics park in Wisconsin. WestRock, a leader in sustainable packaging, has signed a build-to-suit lease for a 580,000-square-foot facility at the site. This new hub will serve the Great Lakes region with advanced manufacturing capabilities, aiming to enhance product quality and sustainability.
The logistics park, previously a power plant site, boasts unique power and water infrastructure, and is the only rail-served logistics park in Wisconsin. The development is expected to bolster local employment and the economy, with potential for future leases.
The project reflects Dermody Properties’ commitment to creating cutting-edge logistics solutions and WestRock’s strategic expansion to meet growing regional demand.
WestRock (NYSE: WRK) announced that its stockholders have approved the combination with Smurfit Kappa Group. The transaction, agreed on September 12, 2023, will result in the merger of WestRock into a wholly owned subsidiary of Smurfit WestRock, under the Companies Act of Ireland. WestRock stockholders will receive one new Smurfit WestRock share and $5.00 in cash per WestRock share upon completion. The merger is subject to specific conditions outlined in the transaction agreement. WestRock, a leader in sustainable paper and packaging solutions, has over 50,000 employees across the Americas, Europe, and Asia-Pacific.
For the second consecutive year, WestRock (NYSE: WRK) has ranked first in the Packaging and Containers industry on the Fortune 500 list. The list recognizes the 500 largest U.S. corporations by total revenue for the 2023 fiscal year. WestRock maintained its top industry position with $20.3 billion in annual revenue.
The company released its 2023 Sustainability Report in May, showcasing innovations aimed at replacing plastic with fiber-based materials. Technologies like Cluster-Clip™, EnduraGrip™, and PETCollar™ Shield Plus were highlighted. Notably, the EnduraGrip™ packaging solution won Innovation of the Year at the North American Paperboard Packaging Competition.
WestRock (NYSE: WRK) has launched its first virtual power purchase agreement (VPPA) project, the Bernard Creek Solar, in partnership with ENGIE North America. Located in Wharton County, Texas, the 230 MW project aims to produce roughly 500,000 MWh annually. WestRock has contracted 207 MW from this project, contributing to its commitment to reduce greenhouse gas emissions by 27.5% by 2030. The project is expected to generate $45 million in revenue for the county and create over 250 jobs during construction. Additionally, WestRock's VPPA initiatives will add a total of 282 MW of renewable energy to the Texas grid.
WestRock Company (NYSE: WRK) reported net sales of $4.73 billion and net income of $16 million for the fiscal second quarter ended March 31, 2024. Adjusted net income was $101 million, with EPS of $0.06 and Adjusted EPS of $0.39. The company achieved over $160 million in cost savings and expects to exceed its fiscal 2024 target. Despite a decline in net sales compared to the prior year, WestRock remains focused on driving long-term earnings growth through efficiency and innovation.
WestRock Company (NYSE: WRK) has announced a quarterly dividend of $0.3025 per share on its common stock. The dividend will be paid to stockholders of record on May 14, 2024, and will be paid on May 22, 2024.
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