WestRock Reports Second-Quarter Profits

ATLANTA — WestRock Co. has reported fiscal second-quarter profit of $148.1 million.
WestRock, based in Atlanta, reported profit of 57 cents per share. Earnings, adjusted for non-recurring costs and restructuring costs, came to 67 cents per share.
The paper and packaging company posted revenue of $4.45 billion.
“In the second quarter, WestRock delivered solid results with improved demand in select key markets as the COVID-19 pandemic impacted consumer buying habits, especially in March,” said Steve Voorhees, the company’s  chief executive officer.
“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,” he said.
WestRock shares have dropped 29 percent since the beginning of the year. The stock has dropped 21 percent in the last 12 months.