WestRock Company's fiscal 4Q 2021 net sales of $5.1 billion increased 14% compared to $4.5 billion in the prior year quarter. Corrugated Packaging segment net sales increased $500 million and Consumer Packaging segment net sales increased $156 million. Segment income increased $153 million compared to the prior year quarter, with Corrugated Packaging segment income increasing $93 million and Consumer Packaging segment income increasing $60 million.
Fiscal 4Q 2021 net income of $324 million compared to a net loss of $1,156 million in the prior year quarter, which included a $1,314 million goodwill impairment net of tax. Adjusted Segment EBITDA of $878 million increased 22% compared to $721 million in the prior year quarter.
The WestRock team delivered strong results in fiscal 2021, with record net sales and strong cash flows for the full fiscal year,” said David B. Sewell, CEO. “We executed on our capital allocation priorities, and I’m pleased to announce that we reached our target net leverage ratio in the quarter. In addition, we recently announced another increase to our dividend, which will result in a 25% increase since February. Looking forward, we believe we remain well positioned to successfully partner with our customers to meet their growing needs for sustainable, fiber-based packaging solutions.”
WestRock Company is a global manufacturer of differentiated paper and packaging solutions.
