WestRock (WRK) Tops Q2 EPS by 6c, Revenues Miss

WestRock (NYSE: WRK) reported Q2 EPS of $0.67, $0.06 better than the analyst estimate of $0.61. Revenue for the quarter came in at $4.45 billion versus the consensus estimate of $4.47 billion.

“I am incredibly proud of the WestRock team that is focused every day on ensuring that the paper and packaging needed to keep critical supply chains operating during the pandemic are available for our customers and our communities,” said Steve Voorhees, chief executive officer. “With operations around the world, we have been working steadily to help our team stay safe by implementing enhanced protection and sanitization measures across our company. We are relentlessly focused on ensuring the health and safety of our teammates.

“In the second quarter, WestRock delivered solid results with improved demand in select key markets as the pandemic impacted consumer buying habits, especially in March. We are adapting quickly to the uncertain economic and market demand conditions and taking steps that we expect will provide an additional $1 billion in cash available for debt reduction through fiscal 2021. We are confident in our differentiated strategy and value proposition, and believe these steps will ensure that WestRock remains well positioned for long-term success.”

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

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