WestRock (WRK) Q4 Earnings Top On Improved Segment Results
Zacks Investment Research | Nov 01, 2017 09:31PM ET
WestRock Company (NYSE:WRK) reported fourth-quarter fiscal 2017 (ended Sep 30, 2017) adjusted earnings of 87 cents per share beating the Zacks Consensus Estimate of 81 cents by a margin of 7%.
Including one-time items, the company posted earnings of 76 cents per share in the quarter against loss of 34 cents per share in the prior-year quarter.
Operational Update
WestRock’s total revenues rose 12.4% year over year to $4.061 million. Moreover, revenues beat the Zacks Consensus Estimate of $3.925 billion. The year-over-year improvement in sales was primarily driven by increased sales in Corrugated Packaging segment as well as Consumer Packaging segment sales. This helped mitigate the decline in the Land and Development segment’s sales.
Cost of sales went up 13.5% year over year to $3.3 billion in the quarter. Gross profit improved 8% to $778 million. Gross margin contracted 70 basis points to 19.2% in the quarter. Adjusted segment EBITDA was $654.4 million compared with $588.8 million in the prior-year quarter. Adjusted operating margin was 16.1% in the quarter compared with 16.3% in the prior-year quarter.
Westrock Company Price, Consensus and EPS Surprise
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