WestRock Company - WRK STOCK NEWS

WestRock Company (NYSE: WRK) has provided an update on a recent ransomware incident, detailing their efforts to contain and recover from the breach swiftly. The company has engaged cybersecurity experts and implemented business continuity measures while restoring its information systems. Production levels have been impacted, with approximately 85,000 tons lower than planned through February 4. However, the packaging operations are nearing full capacity. WestRock maintains various insurance policies to mitigate financial impacts, and continues to assess the incident's overall effect on operations.

WestRock Company (NYSE: WRK) announced a quarterly dividend of $0.20 per share on its common stock. This dividend will benefit stockholders of record as of February 11, 2021, and will be distributed on February 23, 2021. WestRock provides innovative paper and packaging solutions globally, supporting a diverse customer base across various continents.

WestRock Company (NYSE:WRK) reported fiscal first-quarter results for the period ending December 31, 2020, showcasing net sales of $4.4 billion, unchanged from the previous year. The company achieved a 5% increase in total packaging shipments, with North American box shipments rising 8%. Adjusted earnings per diluted share were $0.61, up from $0.58 year-over-year. Strong cash flow was evident with $719 million from operations and $562 million in adjusted free cash flow. However, segment income decreased, attributed to reduced sales in Corrugated Packaging.

WestRock Company (NYSE: WRK) provided an update on its ransomware incident from January 25, 2021. The company’s security teams, aided by cyber defense experts, are working on remediation and recovery. Operations largely continue, with alternative methods being used to fulfill orders where technology issues persist. CEO Steve Voorhees emphasized ongoing efforts to restore normalcy while maintaining operational capabilities at mills and converting plants. However, potential adverse effects, including legal and reputational risks, remain from this incident.

WestRock Company (NYSE: WRK) reported a ransomware incident detected on January 23, 2021, affecting its operational and information technology systems. The company has initiated response protocols and is collaborating with cyber defense experts. While recovery efforts are ongoing to minimize operational disruptions, the incident may lead to delays and could impact revenue negatively. WestRock has notified law enforcement and its customers regarding the situation, emphasizing the potential for adverse financial results as they navigate this challenge.

WestRock Company (NYSE: WRK) has announced a conference call scheduled for January 28, 2021, at 8:30 AM ET to discuss its first quarter fiscal 2021 results. The company will release the financial results prior to market open on the same day. Investors can access the call and additional financial information through the Investors section of WestRock's website. Participation via teleconference is available by dialing specific numbers provided in the announcement.

WestRock Company (NYSE: WRK), a leader in paper and packaging solutions, will participate in the Citi 2020 Basic Materials Virtual Conference on December 2, 2020. CFO Ward Dickson and CCO Jeff Chalovich will present at 11:00 am ET, discussing the company's business and addressing questions. The event will be webcast and available for replay on WestRock’s website.

WestRock partners globally to offer differentiated solutions, enhancing client success in the marketplace.