WestRock Company announced results for its 4Q and fiscal year endedSeptember 30, 2016. In 4Q 2016, the company recorded a loss of $0.34 per diluted share from continuing operations resulting from a $0.91 non-cash charge related to the transfer of certain pension plan assets and liabilities to a third party.
WestRock earned $0.71 of adjusted earnings per diluted share from continuing operations in 4Q 2016.
WestRock's 4Q net sales fall to $3.61 billion, attributable to impact of $10 million of volume, price and mix in the Corrugated and Consumer Packaging segments.
Steve Voorhees, CEO ofWestRock, said, "I'm proud of our strong results during the quarter and our first fiscal year as WestRock. We drove solid earnings per share and robust cash flows through the execution of our disciplined operational plan. We've made considerable progress toward achieving our $1 billion synergy and performance improvement goal, and reached an annual run rate of $500 millionas of the end of September. Our performance this year is a testament to the value that our differentiated strategy is delivering to our customers, stockholders and employees."
WestRock Companyis a leading provider of differentiated paper and packaging solutions.