- WestRock Co (NYSE:WRK) announces a net income of $110 million for Q4, with adjusted net income at $210 million.
- Net sales reached $5.0 billion in Q4, despite a 7.7% decline from the previous year.
- Full-year 2023 net loss reported at $1.6 billion, with adjusted net income of $778 million and consolidated adjusted EBITDA of $3.0 billion.
- Corrugated Packaging segment Adjusted EBITDA increased by 13.0% compared to Q4 of fiscal 2022.
On November 9, 2023, WestRock Co (NYSE:WRK), a leader in sustainable paper and packaging solutions, disclosed its financial results for the fourth quarter and full fiscal year ending September 30, 2023. The company faced a challenging quarter with net sales of $5.0 billion, a decrease of 7.7% from the same period last year. Despite these challenges, WestRock reported a net income of $110 million and an adjusted net income of $210 million for the quarter. The company’s full-year 2023 results showed a net loss of $1.6 billion, significantly impacted by a $1.9 billion pre-tax, non-cash goodwill impairment and $859 million of pre-tax restructuring and other costs. However, adjusted net income for the year stood at $778 million, with consolidated adjusted EBITDA reaching $3.0 billion.