WestRock Reports Strong Finish to Fiscal 2017
Nov. 02, 2017 - WestRock Company (NYSE:WRK), a leading provider of differentiated paper and packaging solutions, today announced results for its fiscal fourth quarter and fiscal year ended September 30, 2017.
Fourth Quarter 2017 Highlights
- Earned $0.76 per diluted share and $0.87 of adjusted earnings per diluted share. Our effective tax rate was 20.7%, and our adjusted tax rate was 28.4%
- Generated net cash provided by operating activities of $494 million and adjusted free cash flow of $271 million
- Achieved $80 million in year-over-year productivity and a run rate of $840 million of synergy and performance improvements since the merger
Steve Voorhees, chief executive officer of WestRock, said, “I am pleased with the success the WestRock team achieved in fiscal 2017, with strong productivity and growth in cash flow. While we experienced a challenging cost environment, our team met the challenge and delivered on our objectives across the board, increasing value for customers, employees and stockholders. We are well positioned for a successful fiscal 2018.”
WestRock's full results for fiscal fourth quarter and fiscal year ended September 30, 2017 are available on the company's website: www.westrock.com.
SOURCE: WestRock Company