WestRock has confirmed results for its fiscal third quarter ended June 30, 2021. Notable items in the third quarter include:
- Record net sales of $4.8bn increased 14% compared to the prior year quarter;
- Net income of $250m increased 40% compared to $179m in the prior year quarter;
- Adjusted Segment EBITDA of $811m increased 15% compared to $708m in the prior year quarter;
- Record third quarter North American per day box shipments increased 9% compared to the prior year quarter.
“We delivered excellent results in the third fiscal quarter, with record revenue and North American box shipments that drove a 35% year-over-year increase in diluted earnings per share,” said David B. Sewell, CEO. “We saw strong demand for our products and solutions across our targeted end markets, and pricing gains outpaced inflation in the quarter. It was another quarter of strong cash flows, and we executed our capital allocation priorities, enabling us to approach our targeted net leverage range ahead of expectations. Looking forward, we remain well positioned for success and are committed to accelerating the opportunities we see across our differentiated portfolio, innovating to develop new sustainable, fiber-based packaging solutions and driving productivity to generate improved returns.”