WESTROCK COFFEE CO Stock Price, News & Analysis

Westrock Coffee Company (Nasdaq: WEST) reported a 20% increase in net sales for Q4 2022 and a 24% increase for the full year, reaching $867.9 million. Despite this growth, the company faced a net loss of $55.5 million, an increase from $21.3 million in 2021, attributed to restructuring expenses and non-cash warrant liabilities. Adjusted EBITDA for 2022 was $60.1 million, up 27% year-over-year. Looking ahead, Westrock anticipates 10% to 25% growth in Adjusted EBITDA for fiscal 2023. The acquisition of Bixby Coffee aims to strengthen influencer marketing channels.

Westrock Coffee Company (NASDAQ: WEST) has officially relocated its headquarters to a new 50,000 square foot office in Little Rock, Arkansas. This move, made in partnership with First Security Bancorp, aims to enhance accessibility for employees, customers, and partners. The new location is designed to facilitate collaboration and productivity, equipped with modern technology and amenities. Scott Ford, CEO, emphasized the strategic importance of this central site for meeting growing demands in the coffee and tea markets. The property was acquired by First Security in December 2022, strengthening ties between the two companies.

Westrock Coffee Company (NASDAQ: WEST) has announced the acquisition of Bixby Roasting Co., a specialty-grade roaster focused on the influencer-led brand space. The deal aims to enhance Westrock's omnichannel marketing and product development capabilities, aligning with evolving consumer trends. Bixby co-founders Miles Fisher and Remington Hotchkiss will join Westrock's senior management, indicating a strategic integration of their expertise. Although the financial terms remain undisclosed, this acquisition is expected to boost Westrock's customer offerings and e-commerce initiatives.

Westrock Coffee Company (NASDAQ: WEST) announced it will release its fourth quarter and full-year 2022 financial results on March 14, 2023, post-market close. Following the announcement, a live earnings conference call will take place at 5:00 p.m. EST. Participants can register for the call through the provided link, and the live audio webcast will be accessible via the Company’s Investor Relations website. Westrock Coffee specializes in integrated coffee, tea, flavors, extracts, and ingredient solutions, serving various sectors, including retail, foodservice, and hospitality, with operations in 10 countries and sourcing from 35 origin countries.

Westrock Coffee Company (NASDAQ: WEST) announced the closing of a $50 million amendment to its existing $350 million credit agreement, establishing a senior secured delayed draw term loan credit facility. This facility features competitive interest rates and commitment fees aligned with the existing credit terms. The term loans will mature on August 29, 2027, enhancing the company's financial flexibility to expand production capabilities at its facility in Conway, Arkansas. CFO Chris Pledger expressed gratitude for lender support, emphasizing the company's growth strategy.

Westrock Coffee Company (NASDAQ: WEST) announced a partnership with Tempus Realty Partners to construct a 530,000-square-foot distribution center in Arkansas. The facility will be fully utilized by Westrock Coffee after its completion, expected by the end of 2023. This modern center will support the company's expanding operations, including product packaging from its nearby manufacturing facility. Key features include 36-foot clear heights and 72 dock doors. Company officials expressed enthusiasm about the center's potential to enhance service efficiency and meet growing product demand while reinforcing Westrock Coffee's commitment to the Central Arkansas community.

Westrock Coffee Company (NASDAQ: WEST) announced its participation in the 25th Annual ICR Conference, scheduled from January 9-11, 2023 in Orlando, Florida. CEO Scott Ford and CFO Chris Pledger will present on January 9 at 1:00 p.m. ET, with a live webcast available on the Company’s Investor Relations website. Westrock Coffee is a leading provider of integrated coffee and tea solutions, servicing various industries globally. The company operates in 10 countries and sources from 35 origins. Archived webcasts will be accessible post-event.

Westrock Coffee reported a 27% increase in net sales for Q3 2022, totaling $230.3 million, driven by a rise in single-serve cup volumes. However, the company faced a net loss of $13.0 million, up from $3.9 million in Q3 2021, largely due to acquisition and restructuring costs. Adjusted EBITDA grew by 33% to $17.9 million, reflecting improved expense management. The company is accelerating Phase II expansion of its Conway, AR facility and acquired Kohana Coffee to enhance its RTD capabilities. Guidance for 2022 net sales is now set between $850 million and $890 million.