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.
WestRock Company (NYSE: WRK) has announced an agreement to acquire the remaining interest in Grupo Gondi for $970 million, with an estimated enterprise value of $1.763 billion. This acquisition strengthens WestRock's position in the Latin American packaging market, providing operational integration and geographic diversification. Grupo Gondi's 2022 estimated EBITDA stands at $200-$210 million, and WestRock expects to achieve $60 million in annual synergies by year three. The transaction is expected to close by the end of 2022 and remain within WestRock's debt leverage targets.
WestRock Company (NYSE: WRK) will hold a conference call on August 4, 2022, at 8:30 a.m. EDT, to discuss its third quarter fiscal 2022 results. A press release detailing these results will be issued before the market opens. Investors can access the call through a teleconference by dialing 877-317-6789 (U.S.) or +1 412-317-6789 (international). The call will also be available via a webcast on WestRock's investor relations website, with all relevant financial information provided there.
WestRock Company (NYSE: WRK), a leader in sustainable paper and packaging solutions, will participate in Deutsche Bank’s 13th Annual Global Materials Conference on June 8, 2022. The presentation by CEO David B. Sewell and CFO Alex Pease is scheduled for 9:00 am ET and will be webcast, with a replay available on WestRock’s website.
WestRock serves customers worldwide from various locations, focusing on providing sustainable packaging solutions that foster business success.
WestRock Company (NYSE:WRK) reported record net sales of $5.4 billion for Q2 fiscal 2022, marking a 21.3% year-over-year increase. Although net income decreased by 64.5% to $40 million, adjusted net income surged 112.9% to $309 million. Consolidated Adjusted EBITDA reached a record $854 million, up 33.3% year-over-year. The company announced a new 25 million share repurchase program and increased its full-year guidance, reflecting confidence in future growth despite facing challenges from inflation and supply chain costs.
WestRock Company (NYSE: WRK) has declared a quarterly dividend of $0.25 per share on its common stock. This dividend will be payable to stockholders of record as of May 12, 2022, with payment scheduled for May 24, 2022. The company continues to focus on providing sustainable paper and packaging solutions globally, reinforcing its commitment to enhancing shareholder value.
WestRock Company (NYSE: WRK) will permanently close its mill in Panama City, Florida, by June 6, 2022. This facility produces containerboard and fluff pulp, totaling an annual capacity of 645,000 tons. As part of its strategy, WestRock will shift select containerboard production to other locations. The closure affects approximately 450 employees, who will receive severance and outplacement assistance. The decision aims to improve returns on invested capital and focus on higher-value markets, as maintaining the mill would require substantial capital investment.
WestRock Company (NYSE: WRK) announced that it will host a conference call on May 5, 2022, at 8:30 am ET to discuss its second quarter fiscal 2022 results. A detailed press release will be issued before the market opens on the same day. Investors can access the call via webcast on WestRock's website. Those wishing to participate via teleconference should dial in at least 15 minutes prior to the start of the call.
WestRock Company (NYSE: WRK) announced the appointment of Robert Quartaro as the new senior vice president of Investor Relations. Quartaro, who brings 20 years of experience, previously served as vice president of Investor Relations at AutoNation and has extensive background in accounting and portfolio analysis from Franklin Templeton Investments. Alex Pease, CFO, expressed confidence that Quartaro's expertise will enhance shareholder engagement as the company continues to develop differentiated and sustainable paper and packaging solutions globally.
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