Wausau Paper (WPP) Reports revenue at $3.82 billion, provides outlook

Wausau Paper (NYSE: WPP) reported revenue for the quarter came in at $3.82 billion versus the consensus estimate of $3.75 billion.

Outlook

Our guidance for 2024 is as follows:

Like-for-like revenue less pass-through costs growth of -1% to 0% (previously 0-1%)
Headline operating margin improvement of 20-40bps (excluding the impact of FX)

Other 2024 financial indications:

Mergers and acquisitions will add <0.5% to revenue less pass-through costs growth (previously 0.5-1.0%)
FX impact: current rates (at 2 August 2024) imply a c.2.8% drag on FY 2024 revenues less pass-through costs, with a 0.1pt drag expected on FY 2024 headline operating margin
Headline income from associates and non-controlling interests at similar levels to 2023
Net finance costs of around £295m
Effective tax rate (measured as headline tax as a % of headline profit before tax) of around 28%
Capex of around £260m
Cash restructuring costs of around £285m
Working capital expected to be broadly flat year-on-year

For earnings history and earnings-related data on Wausau Paper (WPP) click here.

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