WestRock (WRK) Tops Q3 EPS by 10c, Beats on Revenues

WestRock (NYSE: WRK) reported Q3 EPS of $0.74, $0.10 better than the analyst estimate of $0.64. Revenue for the quarter came in at $3.7 billion versus the consensus estimate of $3.67 billion.

Third Quarter 2017 Highlights

• Earned $1.29 per diluted share and $0.74 of adjusted earnings per diluted share
• Generated net cash from operating activities of $589 million and adjusted free cash flow of $473 million
• Achieved $94 million in year-over-year productivity improvements and an annual run rate of $760 million of synergy and performance improvements
• Continued our portfolio transformation with:
• the sale of the Home, Health and Beauty (“HH&B”) business – recorded a pre-tax gain of $191 million
  • the acquisition of Multi Packaging Solutions International Limited (“MPS”); advances strategy to provide differentiated, high value-added solutions to our customers and expands participation into attractive end markets; creates opportunity for meaningful synergies and performance improvements of $85 million by end of FY19
  • the acquisition of certain operations of U.S. Corrugated Holdings, Inc. (“U.S. Corrugated”), which included five facilities, providing an opportunity to integrate an additional 105,000 annual tons of containerboard into our Corrugated Packaging segment and another 50,000 tons through a long-term supply agreement

For earnings history and earnings-related data on WestRock (WRK) click here.

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