ATLANTA — WestRock Co. has reported a fiscal fourth-quarter loss of $1.16 billion, after reporting a profit in the same period a year earlier.
The Atlanta-based company said it had a loss of $4.45 per share.
Earnings, adjusted for one-time gains and costs, came to 73 cents per share.
The paper and packaging company posted revenue of $4.47 billion in the period.
For the year, the company reported a loss of $690.9 million, or $2.67 per share, swinging to a loss in the period. Revenue was reported as $17.58 billion.
WestRock shares have declined 10 percent since the beginning of the year.
The stock has dropped nearly 2 percent in the last 12 months.
“The WestRock team rose to the challenges of the operating environment in fiscal 2020 and delivered solid financial results, strong cash flow, and substantial debt reduction,” said Steve Voorhees, chief executive officer.
“While the environment remains uncertain, we are seeing strong trends in key end markets and continue to successfully partner with our customers to meet their growing needs for sustainable, fiber-based packaging solutions. We have positive momentum for strong performance in fiscal year 2021,”
Voorhees said in conclusion.
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