WestRock Company announced results for its fiscal second quarter ended March 31, 2018. The $361 million increase in net sales compared to the prior year quarter was primarily attributable to $179 million of increased Corrugated Packaging segment sales driven by higher selling price/mix and $250 million of increased Consumer Packaging segment sales, primarily due to the contribution from the Multi Packaging Solutions acquisition.
The $72 million increase in segment income was primarily due to $93 million of increased Corrugated Packaging segment income, which was partially offset by $20 million of decreased Consumer Packaging segment income, including the absence of $24 million of income due to sale of HH&B. Adjusted Segment EBITDA increased 22% compared to the prior year quarter.
“The WestRock team performed well and delivered a strong second quarter. With our acquisition of Plymouth and the agreement to acquire KapStone, we are further strengthening our capabilities and solutions offerings for our customers,” said Steve Voorhees, WestRock’s CEO. “Paper and packaging markets remain attractive and, with the momentum that we have across our businesses, we expect to exceed our previously announced financial goals for fiscal 2018. As a result, we have raised our guidance for annual sales and EBITDA.”
WestRock Company is a leading provider of differentiated paper and packaging solutions.
