Welcome to our dedicated page for Westrock news (Ticker: WRK), a resource for investors and traders seeking the latest updates and insights on Westrock stock.
WestRock Co. provides sustainable fiber-based paper and packaging solutions through integrated packaging capabilities serving customers across the Americas, Europe, Asia-Pacific and Australia. Company news commonly covers corrugated packaging capacity, including regional operations for the Great Lakes market, and product innovation aimed at replacing plastic with fiber-based materials.
Recurring WestRock updates also include sustainability reporting, renewable energy agreements tied to greenhouse gas reduction targets, operating and financial results, dividend declarations, capital-structure disclosures and stockholder governance matters. Coverage of the company centers on packaging demand, manufacturing footprint, sustainability initiatives and public-company actions affecting its common stock.
WestRock Company (NYSE: WRK) has announced a definitive agreement to fully divest its ownership interest in RTS Packaging to Sonoco Products Company for $330 million, along with selling its uncoated recycled paperboard mills in Eaton, Indiana, and Aurora, Illinois, to Ox Industries for $50 million. These divestitures are part of WestRock's strategy to optimize its portfolio and focus on key end markets. Both transactions are set to close in early 2023, subject to regulatory approvals and closing conditions.
WestRock Company (NYSE: WRK) announced a quarterly dividend of $0.275 per share, up $0.025 from the previous rate, marking a 10% annual increase. This dividend will be paid to stockholders of record by the close of business on November 10, 2022, and will be disbursed on November 23, 2022. The increase reflects WestRock's commitment to providing value to its shareholders while supporting its sustainable paper and packaging solutions globally.
WestRock Company (NYSE: WRK) announced the permanent closure of its corrugated medium manufacturing operations at its St. Paul, Minnesota mill, impacting approximately 130 jobs. The company will continue producing coated recycled board at this location. The decision is part of WestRock's strategy to enhance returns on invested capital, as maintaining the corrugated medium machinery would necessitate significant investments. The closure will lead to a reduction of 200,000 tons in annual production.
WestRock Company (NYSE: WRK) will host a conference call on November 10, 2022, at 8:30 am ET to discuss its fourth quarter fiscal 2022 results. A press release detailing these results will be available before the market opens. The call will be accessible via a teleconference, with dial-in options provided. Participants can access additional information through the Investors section of WestRock's website. This call aims to provide insights into WestRock's performance and strategy moving forward, benefiting stakeholders and analysts alike.
WestRock Company (NYSE: WRK) has acquired an HP PageWide T1190 Press to enhance its corrugated printing capabilities, enabling a competitive advantage in the market. This 110-inch wide inkjet digital press runs at 1,000 ft/min and integrates into their existing production processes. It allows for reduced minimum order quantities, faster lead times, and supports various market launches. The advanced technology can produce high-quality graphics using water-based inks and offers flexibility for brand engagement programs. Installation at Lithia Springs, Georgia, is expected by September 2023.
WestRock Company (NYSE: WRK) has received a USPTO patent for its new CanCollar® X, a sustainable beverage packaging solution that can reduce material use by up to 50% compared to traditional methods. This fiber-based design eliminates the need for hard-to-recycle plastics and enhances consumer handling. The CanCollar® X is automated by the patented CanCollar Fortuna® platform, ensuring high-speed accuracy in can orientation. This innovation aims to bolster WestRock's sustainability efforts and strengthen its industry position.
WestRock Company (NYSE: WRK) has announced the deployment of its innovative Cluster-Pak® EvoTech™ packaging solution in collaboration with Budějovický Budvar and Mattoni 1873. This partnership aims to enhance sustainability by utilizing fiber-based packaging for the production of BIRGO, a non-alcoholic beer, in the Czech Republic. The new packaging is designed for high efficiency with an hourly output of 50,000 cans, significantly reducing plastic use by an estimated 85 tons annually. The initiative aligns with WestRock's commitment to sustainable practices in the beverage industry.
WestRock Company (NYSE:WRK) reported record quarterly net sales of $5.5 billion, reflecting a 14.6% year-over-year increase. Net income surged by 51.1% to $378 million, with adjusted net income of $396 million, marking a 47.6% growth. The Consolidated Adjusted EBITDA reached a record $1.006 billion, increasing 24.0%. Earnings per share rose significantly to $1.47, with adjusted EPS at $1.54, up 58.1% and 54.0%, respectively. The company announced plans to acquire Grupo Gondi for $970 million, enhancing its presence in Latin America.
WestRock Company (NYSE: WRK) announced its participation in the Jefferies Industrials Conference on August 9, 2022, at 2:30 pm ET. Chief Financial Officer Alex Pease will share insights about the company during this event, which will be available for live webcast and replay on WestRock’s website.
WestRock is renowned for providing sustainable paper and packaging solutions globally, supporting clients across North America, South America, Europe, Asia, and Australia.
WestRock Company (NYSE: WRK) announced a quarterly dividend of $0.25 per share on its common stock. This dividend will be available to stockholders of record as of the close of business on August 12, 2022, and is set to be paid on August 24, 2022. This move reflects the company's commitment to returning value to shareholders.