Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/html/wp-includes/functions.php on line 6260 WestRock Reports Fiscal 2021 Second Quarter Results - Ink World Magazine

What are you searching for?

Sign in
Industry News, Printers News

WestRock Reports Fiscal 2021 Second Quarter Results

Net sales of $4.4 billion were flat to the prior year quarter.

Author Image

By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

WestRock Company announced results for its fiscal second quarter ended March 31, 2021, featuring record second quarter North American per day box shipments up 5.5% compared to the prior year quarter.

Net sales of $4.4 billion were flat to the prior year quarter despite $189 million of lost sales due to the impact of the ransomware incident and winter weather.

“We have made a remarkable recovery from the incidents in the second quarter, and I want to thank our teammates for their dedication to our company and our customers,” said CEO David B. Sewell, chief executive officer. “With these events behind us, we are confident in our business and our ability to generate strong cash flow, which is evident by our dividend increase announced today. I look forward to what’s ahead for our company.”

During the second quarter of fiscal 2021, WestRock lost approximately 167,000 tons of containerboard and paperboard production due to the events. The impact on net sales and segment income from the lost sales and operational disruption during the quarter was $189 million and $80 million, respectively. 

Add us as a preferred source on Google

Get the latest Ink World magazine news, insights and analysis in your Google Search and AI experiences.

Add Ink World magazine as a preferred source on Google (opens in a new tab)

Keep Up With Our Content. Subscribe To Ink World magazine Newsletters