WestRock Company - WRK STOCK NEWS

WestRock Company (NYSE: WRK) will participate in the Bank of America 2023 Global Agriculture and Materials Conference on March 1, 2023, at 4:30 pm ET. The company's CFO, Alex Pease, will present valuable information about the company's sustainable paper and packaging solutions. Attendees can access the presentation via a live webcast, with a replay available on WestRock’s website.

WestRock is dedicated to providing sustainable solutions to customers globally, operating across North America, South America, Europe, Asia, and Australia.

WestRock Company (NYSE:WRK) reported fiscal Q1 2023 net sales of $4.9 billion, a slight 0.6% decrease year-over-year. Net income fell to $45 million, down 75.2% from $182 million in Q1 2022, pressured by economic downtime, increased costs, and lower volumes, particularly in the Global Paper segment, which saw a 16.9% sales decline. Adjusted EBITDA was $652 million, down 4.1%. Notably, the company acquired the remaining 67.7% interest in Grupo Gondi for $970 million and reported a gain of $11 million from divesting two mills. Due to uncertain market conditions, fiscal 2023 earnings guidance was removed.

WestRock Company (NYSE: WRK) announced a quarterly dividend of $0.275 per share, payable to stockholders of record by February 10, 2023, with payment scheduled for February 22, 2023. This ongoing commitment to returning value to shareholders highlights WestRock's financial stability and commitment to sustainable operations. The company partners with customers globally, providing innovative packaging solutions across several continents, including North America, South America, Europe, Asia, and Australia. This dividend declaration reflects the company's confidence in its operational strategy and market positioning.

WestRock Company (NYSE: WRK) will host a conference call on February 1, 2023, at 8:30 am ET to discuss its first quarter fiscal 2023 results. A press release with detailed results will be issued before market opening. The call will be accessible via webcast on the Investors section of WestRock's website. Participants can join the teleconference by calling 833-630-1583 (U.S.) or +1 412-317-1822 (International) at least 15 minutes prior to the call.

WestRock Company (NYSE: WRK) has finalized the acquisition of Grupo Gondi for $970 million alongside the assumption of debt. This deal, which is immediately accretive to earnings, includes four paper mills, nine corrugated packaging plants, and six high graphic plants across Mexico. The acquisition strengthens WestRock's position in the Latin American packaging market, enhancing its ability to offer sustainable solutions to customers. CEO David B. Sewell expressed optimism about the synergies and expertise the Grupo Gondi team will bring to the company.

WestRock Company (NYSE: WRK) will participate in the Citi Basic Materials Conference on November 30, 2022, at 1:15 pm ET. The presentation will be led by CEO David Sewell and will provide insights into WestRock's sustainable paper and packaging solutions. The event will be webcast and available for replay on WestRock’s website. WestRock operates globally across North America, South America, Europe, Asia, and Australia.

WestRock Company (NYSE:WRK) reported record net sales of $5.4 billion for Q4 2022, a 6.1% increase from the prior year. Net income rose to $345 million, a 6.4% increase. Adjusted net income reached $366 million, up 10.4% year-over-year. Full-year net sales also hit a record at $21.3 billion, a 13.4% increase. The company announced a 10% dividend increase, bringing the annualized rate to $1.10 per share. Despite high inventory challenges, WestRock remains focused on sustainable solutions and driving innovation for long-term growth.

WestRock Company (NYSE: WRK) has announced a definitive agreement to fully divest its ownership interest in RTS Packaging to Sonoco Products Company for $330 million, along with selling its uncoated recycled paperboard mills in Eaton, Indiana, and Aurora, Illinois, to Ox Industries for $50 million. These divestitures are part of WestRock's strategy to optimize its portfolio and focus on key end markets. Both transactions are set to close in early 2023, subject to regulatory approvals and closing conditions.