PaperAge Magazine

WestRock Reports Strong Finish to Fiscal 2017

WestRock

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