Westrock Coffee Q3 sales fall to $300M; loss narrows

The Beverage Solutions credit commitment rose to $600.0 million from $425.0 million, alongside preliminary 2027 Adjusted EBITDA guidance of approximately $130.0 million.

Available on EDGAR 11/05/2026 - 04:11 PM EST Accepted by SEC EDGAR 11/05/2026 - 04:10 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Westrock Coffee Company (WEST) reported third-quarter 2026 net sales of $300.2 million, compared with $354.825 million a year earlier, while net loss narrowed to $9.976 million from $19.103 million. Consolidated Adjusted EBITDA, a non-GAAP measure, was $26.411 million versus $23.159 million. For the nine months ended September 30, 2026, operating cash flow was $24.813 million provided, compared with $55.703 million used in the prior-year period.

On October 21, the company closed a Beverage Solutions refinancing with $300.0 million senior secured first lien term and $300.0 million revolving facilities, for a $600.0 million total commitment versus $425.0 million under the prior agreement; the facilities mature in October 2031. The company repurchased $40.0 million of its 2029 Notes for approximately $20.7 million in cash, issued approximately 2.4 million common shares and amended its remaining $32.0 million of notes, extending maturity to January 2032. The amended notes may be optionally redeemed if company shares trade at or above $14.25 for more than 120 consecutive trading days.

Westrock reaffirmed 2026 Consolidated Adjusted EBITDA guidance of $90.0 million to $100.0 million and provided preliminary 2027 guidance of approximately $130.0 million.

3 points · 0 major

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Rhea-AI Sentiment measures something else, the tone of the wording.

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How the balance works

Positive

• Moderate pointThird-quarter Consolidated Adjusted EBITDA was $26.411 million, versus $23.159 million.
• Moderate pointNine-month net cash from operating activities was $24.813 million provided, versus $55.703 million used.
• Moderate pointNine-month net loss narrowed to $32.166 million from $67.884 million.

Negative

• Moderate pointThird-quarter net sales were $300.2 million, compared with $354.825 million.
• Minor pointQuarterly Sustainable Sourcing Segment Adjusted EBITDA was $3.154 million, versus $5.755 million.

Filing Explained

The filing reports a 3.07x secured net leverage ratio as of September 30, 2026, calculated under the prior credit agreement; the company closed a replacement facility on October 21, so this is a pre-refinancing measure, not a reported leverage ratio for the new facility.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Net sales: $300.2 million; $354.825 million in the prior-year quarter Net loss: $9.976 million; $19.103 million in the prior-year quarter Consolidated Adjusted EBITDA: $26.411 million; $23.159 million in the prior-year quarter +5 more

8 metrics

Net sales $300.2 million; $354.825 million in the prior-year quarter Three months ended September 30, 2026 and 2025

Net loss $9.976 million; $19.103 million in the prior-year quarter Three months ended September 30, 2026 and 2025

Consolidated Adjusted EBITDA $26.411 million; $23.159 million in the prior-year quarter Three months ended September 30, 2026 and 2025; non-GAAP measure

Net cash from operating activities $24.813 million provided; $55.703 million used in the prior-year period Nine months ended September 30, 2026 and 2025

Credit agreement total commitment $600.0 million $300.0 million term loan facility and $300.0 million revolving credit facility; prior commitment was $425.0 million

2029 Notes repurchased $40.0 million principal for approximately $20.7 million in cash Capital markets transactions connected with the refinancing

Common shares issued Approximately 2.4 million shares Issued in connection with the refinancing transactions

2026 Consolidated Adjusted EBITDA guidance $90.0 million to $100.0 million Reaffirmed outlook

Key Terms

Consolidated Adjusted EBITDA, senior secured first lien term loan facility, secured net leverage ratio, supply chain finance program, +1 more

5 terms

Consolidated Adjusted EBITDA financial

"Consolidated Adjusted EBITDA is a non-GAAP financial measure"

Consolidated adjusted EBITDA is a company’s combined operating profit across all its units before interest, taxes, depreciation and amortization, further cleaned up by removing one‑time, noncash or unusual items so it shows the ongoing cash-generating performance. Think of it as the business’s engine power after stripping out financing, tax rules and one-off events—investors use it to compare operating health and value companies, but it’s not a formal accounting measure.

senior secured first lien term loan facility financial

"senior secured first lien term loan facility"

A senior secured first lien term loan facility is a package of borrowings that has the highest priority among a borrower's creditors, is backed by specific collateral, and must be repaid according to a fixed schedule. For investors this matters because holders of this loan have first legal claim on the pledged assets if the borrower defaults, which typically reduces credit risk and affects pricing compared with unsecured or subordinated debt—like being first in line to claim proceeds from a sale of collateral.

secured net leverage ratio financial

"secured net leverage ratio under the terms of its prior credit agreement"

Secured net leverage ratio measures how much backed debt a company carries after using available cash, compared with the cash the business generates to service that debt. Think of it as how many years of a household’s take-home pay would be needed to pay off the mortgage that is tied to the house itself. Investors use it to gauge default risk, financial flexibility, and whether borrowing limits or interest costs may pressure future returns.

supply chain finance program financial

"Supply chain finance program"

mark-to-market adjustments financial

"Mark-to-market adjustments"

Mark-to-market adjustments are updates companies make to the value of assets or liabilities to reflect their current market price, like re-pricing items in a garage sale to match what buyers would pay today. For investors, these adjustments matter because they can change reported profits and the size of a company’s balance sheet quickly, revealing real-time gains, losses and the true risk exposure of holdings.

Earnings Snapshot

Net sales: $300.2 million · Guidance included

third quarter ended September 30, 2026

Net sales $300.2 million Compared with $354.825 million in the prior-year quarter

Net loss $9.976 million Compared with $19.103 million in the prior-year quarter

Consolidated Adjusted EBITDA $26.411 million Compared with $23.159 million in the prior-year quarter

Guidance

2026 Consolidated Adjusted EBITDA guidance of $90.0 million to $100.0 million was reaffirmed; preliminary 2027 guidance is approximately $130.0 million.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were WEST's third-quarter 2026 sales?

WEST reported net sales of $300.2 million for the third quarter ended September 30, 2026, compared with $354.825 million in the prior-year quarter. For the nine months ended September 30, 2026, net sales were $914.683 million, compared with $849.480 million in the prior-year period.

What was WEST's third-quarter 2026 adjusted EBITDA?

Consolidated Adjusted EBITDA was $26.411 million for the third quarter of 2026, compared with $23.159 million a year earlier. For the nine months ended September 30, 2026, it was $73.676 million, versus $46.720 million in the prior-year period. The company identifies this as a non-GAAP measure.

What does WEST's Beverage Solutions refinancing include?

The credit agreement provides a $300.0 million term loan facility and a $300.0 million revolving credit facility, for a $600.0 million total commitment. The five-year facilities mature in October 2031. The company said proceeds were used to repay debt under the prior agreement and related transaction costs, with other proceeds for general corporate purposes.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): November 5, 2026

Westrock Coffee Company

(Exact Name of Registrant as Specified in Charter)

Delaware	​ ​ ​	001-41485	​ ​ ​	80-0977200
(State or Other Jurisdiction of Incorporation)	​	(Commission File Number)	​	(I.R.S. Employer Identification No.)

​

4009 N. Rodney Parham Road

4th Floor

Little Rock, AR 72212

(Address of Principal Executive Offices, and Zip Code)

(501) 918-9358

Registrant’s Telephone Number, Including Area Code

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Shares of common stock, par value $0.01 per share	WEST	The Nasdaq Stock Market LLC

​

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

​

​

Item 2.02.Results of Operations and Financial Condition.

On November 5, 2026, Westrock Coffee Company (the “Company”) issued a press release announcing its financial results for the third quarter ended September 30, 2026. The third quarter 2026 earnings press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information furnished pursuant to this Item 2.02, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be incorporated by reference in any filing made by the Company pursuant to the Securities Act of 1933, as amended, other than to the extent that such filing incorporates by reference any or all of such information by express reference thereto.

​

​

​

Item 9.01.Financial Statements and Exhibits.

(d) Exhibits.

​	​	​
Exhibit No.	​ ​ ​	Description of Exhibit
​	​	​
99.1*	​	Westrock Coffee Company Press Release, dated November 5, 2026
​	​	​
104	​	Cover Page Interactive Data File (embedded within the Inline XBRL document)
​	​	​

* Furnished, not filed

​

​

​

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

WESTROCK COFFEE COMPANY
By:	/s/ L. Keith Harvey		​
	Name:	L. Keith Harvey
	Title:	Chief Legal Officer and Corporate Secretary

​

Dated: November 5, 2026

Exhibit 99.1

​

Westrock Coffee Company Reports Third Quarter 2026 Results

Reaffirms 2026 Outlook and Provides Preliminary 2027 Outlook

​

LITTLE ROCK, Ark., November 5, 2026 (GLOBE NEWSWIRE) – Westrock Coffee Company (Nasdaq: WEST) (“Westrock Coffee” or the “Company”) today reported financial results for the third quarter ended September 30, 2026.

Third Quarter Highlights¹

​

● Consolidated Results

o Net sales were $300.2 million, a decrease of 15.4%, driven primarily by $26.1 million of tariff refunds expected to be passed through to customers that are reported as a reduction in net sales, and the pass-through of lower average green coffee prices during the third quarter compared to the prior year period

o Gross profit was $41.5 million, an increase of 0.2%

o Net loss was $10.0 million, compared to a net loss of $19.1 million in the prior year period

o Consolidated Adjusted EBITDA² was $26.4 million, up 14.0% compared to Consolidated Adjusted EBITDA of $23.2 million in the prior year period

o Capital expenditures of $8.8 million, down from $18.1 million in the third quarter of 2025, continuing the structural shift in the Company’s capital intensity

● Segment Results

o Beverage Solutions

◾ Net sales were $220.1 million, a decrease of 16.3%, driven primarily by $26.1 million of tariff refunds expected to be passed through to customers that are reported as a reduction in net sales, and the pass-through of lower average green coffee prices during the third quarter compared to the prior year period

◾ Segment Adjusted EBITDA³ was $23.3 million, an increase of 13.9%

o Sustainable Sourcing & Traceability

◾ Net sales were $80.1 million, a decrease of 12.8%

◾ Segment Adjusted EBITDA³ was $3.2 million compared to $5.8 million for the prior year period

Commenting on our results, Scott T. Ford, CEO and Co-founder stated, "The third quarter was another record quarter for Westrock Coffee, as it was the sixth consecutive quarter of year-over-year Consolidated Adjusted EBITDA growth. We are growing, we are generating cash, and with the recently closed Beverage Solutions credit agreement, we have put the balance sheet on solid footing for the long-term.”

​

Capital Markets Transactions

​

As previously announced, on October 21, 2026, the Company closed an upsized refinancing for its Beverage Solutions segment through a new credit agreement (the “Credit Agreement”) led by Coöperatieve Rabobank U.A., New York

¹ Unless otherwise indicated, all comparisons are to the prior year period.

² Consolidated Adjusted EBITDA is a non-GAAP financial measure. The definition of Consolidated Adjusted EBITDA is included under the section titled “Non-GAAP Financial Measures” and a reconciliation of Consolidated Adjusted EBITDA to the most directly comparable GAAP measure is provided in the tables that accompany this release.

³ Segment Adjusted EBITDA is a segment performance measure, which is required by U.S. GAAP to be disclosed in accordance with FASB Accounting Standards Codification 280, Segment Reporting. Segment Adjusted EBITDA is defined consistently with Consolidated Adjusted EBITDA, except that it excludes scale-up costs related to our Conway Facility.

Branch (“Rabobank”), providing for a $300.0 million senior secured first lien term loan facility and a $300.0 million senior secured first lien revolving credit facility, for a total commitment of $600.0 million, up from $425.0 million under the prior credit agreement. The five-year credit facilities under the Credit Agreement mature in October 2031. Proceeds were used to repay debt under the prior credit agreement and related transaction costs, including cash payments in connection with the transactions described below involving the Company’s 5% convertible senior notes due 2029 (the “2029 Notes”), and will otherwise be used for general corporate purposes.

​

As part of the refinancing, the Company also announced the repurchase of $40.0 million of its 2029 Notes for approximately $20.7 million in cash and the issuance of approximately 2.4 million shares of the Company’s common stock and entry into amendments to its remaining $32.0 million of 2029 Notes that, among other things, extended their maturity to January 2032 (the “2032 Notes”) and gave the Company the ability to optionally redeem the 2032 Notes if its shares trade at or above $14.25 for more than 120 consecutive trading days.

​

Financial Outlook

​

The Company is reaffirming its 2026 guidance for Consolidated Adjusted EBITDA of $90.0 million to $100.0 million, which was provided in its earnings release dated March 10, 2026. In addition, the Company is providing its preliminary 2027 guidance for Consolidated Adjusted EBITDA of approximately $130.0 million.

​

The Company is not readily able to provide a reconciliation of forecasted Consolidated Adjusted EBITDA to forecasted GAAP net income (loss) without unreasonable effort because certain items that impact such figure are uncertain or outside the Company’s control and cannot be reasonably predicted. Such items include the impact of non-cash gains or losses resulting from market-to-market adjustments, among others.

​

Conference Call Details

​

Westrock Coffee will host a conference call and webcast at 4:30 p.m. ET today to discuss this release. To participate in the live earnings call and question and answer session, please register HERE and dial-in information will be provided directly to you. The live audio webcast will be accessible in the “Events and Presentations” section of the Company’s Investor Relations website at https://investors.westrockcoffee.com. An archived replay of the webcast will be available shortly after the live event has concluded and will be available for a minimum of 14 days.

​

About Westrock Coffee

​

Westrock Coffee is an integrated beverage solutions platform serving the world's largest brands across packaged coffee, tea, ready-to-drink coffee, energy, and functional beverage categories. With our global manufacturing and sourcing footprint, the Company formulates, manufactures, and packages beverages in cans, glass, multi-serve bottles, single-serve capsules, bulk extract, and concentrates, backed by a digitally traceable supply chain. With operations spanning 10 countries, Westrock partners with brands across retail, foodservice, convenience, consumer packaged goods, and hospitality to bring beverage programs to market at scale.

​

Forward-Looking Statements

​

Certain statements in this press release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended from time to time. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, our 2026 financial outlook, our 2027 financial outlook, the plans, objectives, expectations, and intentions of Westrock Coffee, and other statements that are not historical facts. These statements are based on information available to Westrock Coffee as of the date hereof and Westrock Coffee is not under any duty to update any of the forward-looking statements after the date of this communication to conform these statements to actual results. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of the management of Westrock Coffee as of the date hereof and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and should not be relied on by an investor, or others, as a guarantee, an assurance, a prediction, or a definitive statement of fact or probability.

Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Westrock Coffee. These forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to, changes in domestic and foreign business, market, financial, political, and legal conditions; our inability to secure an adequate supply of key raw materials, including green coffee and tea, or a disruption in our supply chain, including from tariffs or trade restrictions or global conflicts (including the ongoing conflicts in Europe, the Middle East and Latin America); risks relating to the uncertainty of the projected financial information with respect to Westrock Coffee; risks related to the rollout of Westrock Coffee's business and the timing of expected business milestones; our inability to successfully commercialize customers at our Conway, Arkansas facility, and generate positive operating cash flows within the anticipated time frame; the effects of competition and industry consolidation on Westrock Coffee's business; the ability of Westrock Coffee to issue equity or equity-linked securities or obtain debt financing in the future; Westrock Coffee’s future level of indebtedness, which may reduce funds available for other business purposes and reduce the Company’s operational flexibility; Westrock Coffee’s inability to comply with the financial covenants in our credit agreement; the risk that Westrock Coffee fails to attract, motivate or retain qualified personnel; the risk that Westrock Coffee fails to fully realize the potential benefits of acquisitions or joint ventures or has difficulty successfully integrating acquired companies; the loss of significant customers or delays in bringing their products to market; litigation or legal disputes, which could lead us to incur significant liabilities and costs or harm our reputation; the risk of incurring additional costs if Westrock Coffee no longer qualifies as an emerging growth company (as defined in the JOBS Act); and those factors discussed in Westrock Coffee’s Annual Report on Form 10-K, which was filed with the United States Securities and Exchange Commission (the “SEC”) on March 10, 2026, in Part I, Item 1A “Risk Factors” and other documents Westrock Coffee has filed, or will file, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Westrock Coffee does not presently know, or that Westrock Coffee currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, the forward-looking statements reflect Westrock Coffee's expectations, plans, or forecasts of future events and views as of the date of this communication. Westrock Coffee anticipates that subsequent events and developments will cause Westrock Coffee's assessments to change. However, while Westrock Coffee may elect to update these forward-looking statements at some point in the future, Westrock Coffee specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as a representation of Westrock Coffee's assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements.

​

Contacts

​

Media:

PR@westrockcoffee.com

​

Investor Contact:

IR@westrockcoffee.com

​

Westrock Coffee Company

Condensed Consolidated Balance Sheets

(Unaudited)

​	​	​	​	​	​	​
(Thousands, except par value)	​ ​ ​	September 30, 2026		​ ​ ​	December 31, 2025
ASSETS	​	​	​	​	​	​
Cash and cash equivalents	​	$	41,104	​	$	49,875
Restricted cash	​	​	13,707	​	​	21,164
Accounts receivable, net of allowance for credit losses of $2,279 and $2,750, respectively	​	​	91,281	​	​	94,099
Inventories	​	​	186,983	​	​	199,802
Derivative assets	​	​	22,531	​	​	15,049
Prepaid expenses and other current assets	​	​	12,672	​	​	16,370
Total current assets	​	​	368,278	​	​	396,359
​	​	​	​	​	​	​
Property, plant and equipment, net	​	​	447,381	​	​	483,606
Goodwill	​	​	116,111	​	​	116,111
Intangible assets, net	​	​	101,327	​	​	107,141
Operating lease right-of-use assets	​	​	59,879	​	​	60,310
Other long-term assets	​	​	14,562	​	​	12,451
Total Assets	​	$	1,107,538	​	$	1,175,978
​	​	​	​	​	​	​
LIABILITIES, CONVERTIBLE PREFERRED SHARES AND SHAREHOLDERS' EQUITY (DEFICIT)	​	​	​	​	​	​
Current maturities of long-term debt	​	$	44,077	​	$	19,281
Short-term debt	​	​	77,860	​	​	82,640
Accounts payable	​	​	83,837	​	​	91,175
Supply chain finance program	​	​	99,863	​	​	96,594
Derivative liabilities	​	​	4,221	​	​	28,600
Accrued expenses and other current liabilities	​	​	104,833	​	​	95,340
Total current liabilities	​	​	414,691	​	​	413,630
​	​	​	​	​	​	​
Long-term debt, net	​	​	319,479	​	​	356,788
Convertible notes payable - related party, net	​	​	64,883	​	​	64,754
Deferred income taxes	​	​	11,982	​	​	10,160
Operating lease liabilities	​	​	57,343	​	​	58,146
Other long-term liabilities	​	​	866	​	​	865
Total liabilities	​	​	869,244	​	​	904,343
​	​	​	​	​	​	​
Commitments and contingencies	​	​	​	​	​	​
​	​	​	​	​	​	​
Series A Convertible Preferred Shares, $0.01 par value, 24,000 shares authorized, 23,511 shares and 23,511 shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively, $11.50 liquidation value	​	​	273,243	​	​	273,503
​	​	​	​	​	​	​
Shareholders' Equity (Deficit)	​	​	​	​	​	​
Preferred stock, $0.01 par value, 26,000 shares authorized, no shares issued and outstanding	​	​	—	​	​	—
Common stock, $0.01 par value, 300,000 shares authorized, 97,631 shares and 96,866 shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively	​	​	976	​	​	969
Additional paid-in-capital	​	​	549,247	​	​	544,567
Accumulated deficit	​	​	(566,536)	​	​	(534,370)
Accumulated other comprehensive income (loss)	​	​	(18,636)	​	​	(13,034)
Total shareholders' equity (deficit)	​	​	(34,949)	​	​	(1,868)
​	​	​	​	​	​	​
Total Liabilities, Convertible Preferred Shares and Shareholders' Equity (Deficit)	​	$	1,107,538	​	$	1,175,978

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Westrock Coffee Company

Condensed Consolidated Statements of Operations

(Unaudited)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended September 30,

​

Nine Months Ended September 30,

(Thousands, except per share data)

​ ​ ​

2026

​ ​ ​

2025

​ ​ ​

2026

​ ​ ​

2025

Net sales

​

$

300,200

​

$

354,825

​

$

914,683

​

$

849,480

Costs of sales

​

​

258,719

​

​

313,423

​

​

789,686

​

​

737,610

Gross profit

​

​

41,481

​

​

41,402

​

​

124,997

​

​

111,870

​

​

​

​

​

​

​

​

​

​

​

​

​

Selling, general and administrative expense

​

​

33,962

​

​

46,996

​

​

107,781

​

​

141,271

Transaction, restructuring and integration expense

​

​

3,790

​

​

3,029

​

​

10,626

​

​

7,297

Loss (gain) on disposal of property, plant and equipment

​

​

492

​

​

8

​

​

1,545

​

​

15

Total operating expenses

​

​

38,244

​

​

50,033

​

​

119,952

​

​

148,583

Income (loss) from operations

​

​

3,237

​

​

(8,631)

​

​

5,045

​

​

(36,713)

​

​

​

​

​

​

​

​

​

​

​

​

​

Other (income) expense

​

​

​

​

​

​

​

​

​

​

​

​

Interest expense

​

​

12,530

​

​

14,023

​

​

39,047

​

​

39,741

Other, net

​

​

(477)

​

​

(992)

​

​

(1,083)

​

​

(3,962)

Loss before income taxes and equity in earnings from unconsolidated entities

​

​

(8,816)

​

​

(21,662)

​

​

(32,919)

​

​

(72,492)

Income tax expense (benefit)

​

​

558

​

​

(122)

​

​

2,122

​

​

1,336

Equity in (earnings) loss from unconsolidated entities

​

​

602

​

​

(2,437)

​

​

(2,875)

​

​

(5,944)

Net loss

​

$

(9,976)

​

$

(19,103)

​

$

(32,166)

​

$

(67,884)

Amortization (accretion) of Series A Convertible Preferred Shares

​

​

87

​

​

88

​

​

260

​

​

260

Net loss attributable to common shareholders

​

$

(9,889)

​

$

(19,015)

​

$

(31,906)

​

$

(67,624)

​

​

​

​

​

​

​

​

​

​

​

​

​

(Loss) earnings per common share:

​

​

​

​

​

​

​

​

​

​

​

​

Basic

​

$

(0.10)

​

$

(0.20)

​

$

(0.33)

​

$

(0.71)

Diluted

​

$

(0.10)

​

$

(0.20)

​

$

(0.33)

​

$

(0.71)

​

​

​

​

​

​

​

​

​

​

​

​

​

Weighted-average number of shares outstanding:

​

​

​

​

​

​

​

​

​

​

​

​

Basic

​

​

97,629

​

​

95,569

​

​

97,409

​

​

94,847

Diluted

​

​

97,629

​

​

95,569

​

​

97,409

​

​

94,847

​

​

​

​

​

​

​

​

Westrock Coffee Company

Condensed Consolidated Statements of Cash Flows

(Unaudited)

​

​	​	​	​	​	​	​
​	​	Nine Months Ended September 30,
(Thousands)	​ ​ ​	2026		​ ​ ​	2025
Cash flows from operating activities:	​	​	​	​	​	​
Net loss	​	$	(32,166)	​	$	(67,884)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:	​	​	​	​	​	​
Depreciation and amortization	​	​	50,171	​	​	40,669
Equity-based compensation	​	​	5,394	​	​	11,709
Provision for credit losses	​	​	1,015	​	​	165
Amortization of deferred financing fees included in interest expense	​	​	3,337	​	​	2,744
Write-off of unamortized deferred financing fees	​	​	168	​	​	137
Loss on disposal of property, plant and equipment	​	​	1,545	​	​	15
Gain on de-consolidation of Rwanda Trading Company	​	​	—	​	​	(2,291)
Mark-to-market adjustments	​	​	(4,669)	​	​	(983)
Foreign currency transactions	​	​	—	​	​	(141)
Deferred income tax expense (benefit)	​	​	1,677	​	​	1,336
Equity in (earnings) loss from unconsolidated entities	​	​	(2,875)	​	​	(5,944)
Other	​	​	820	​	​	1,160
Change in operating assets and liabilities:	​	​	​	​	​	​
Accounts receivable	​	​	(10,049)	​	​	(3,932)
Inventories	​	​	14,032	​	​	(54,752)
Derivative assets and liabilities	​	​	(33,912)	​	​	(12,025)
Prepaid expense and other assets	​	​	7,857	​	​	(1,891)
Accounts payable	​	​	(6,065)	​	​	18,795
Accrued liabilities and other	​	​	28,533	​	​	17,410
Net cash provided by (used in) operating activities	​	​	24,813	​	​	(55,703)
Cash flows from investing activities:	​	​	​	​	​	​
Additions to property, plant and equipment	​	​	(22,407)	​	​	(79,885)
Additions to intangible assets	​	​	(71)	​	​	(85)
Proceeds from sale of equity method investments and non-marketable securities	​	​	—	​	​	500
Acquisition of equity method investments and non-marketable securities, inclusive of cash contributed	​	​	—	​	​	(2,952)
Proceeds from sale of property, plant and equipment	​	​	385	​	​	329
Proceeds from deferred purchase price of sold trade receivables	​	​	11,852	​	​	3,924
Net cash used in investing activities	​	​	(10,241)	​	​	(78,169)
Cash flows from financing activities:	​	​	​	​	​	​
Payments on debt	​	​	(111,969)	​	​	(61,215)
Proceeds from debt	​	​	94,024	​	​	161,923
Payments on supply chain financing program	​	​	(149,657)	​	​	(131,068)
Proceeds from supply chain financing program	​	​	152,926	​	​	150,937
Payment of debt issuance costs	​	​	(2,094)	​	​	(2,730)
Net proceeds from (repayments of) repurchase agreements	​	​	(9,245)	​	​	11,161
Net change in unremitted cash collections from servicing factored receivables	​	​	(3,814)	​	​	7,896
Proceeds from issuance of common stock	​	​	—	​	​	12,097
Payment of equity issuance costs	​	​	—	​	​	(181)
Payment for taxes for net share settlement of equity awards	​	​	(967)	​	​	(2,079)
Net cash (used in) provided by financing activities	​	​	(30,796)	​	​	146,741
Effect of exchange rate changes on cash	​	​	(4)	​	​	(49)
Net increase (decrease) in cash and cash equivalents and restricted cash	​	​	(16,228)	​	​	12,820
Cash and cash equivalents and restricted cash at beginning of period	​	​	71,039	​	​	35,564
Cash and cash equivalents and restricted cash at end of period	​	$	54,811	​	$	48,384

​

​

The total cash and cash equivalents and restricted cash at September 30, 2026 and 2025 is as follows:

​

​	​	​	​	​	​	​
(Thousands)	​ ​ ​	September 30, 2026		​ ​ ​	September 30, 2025
Cash and cash equivalents	​	$	41,104	​	$	33,971
Restricted cash	​	​	13,707	​	​	14,413
Total	​	$	54,811	​	$	48,384

​

​

​

​

​

​

Westrock Coffee Company

Summary of Segment Results

(Unaudited)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended September 30,

​

Nine Months Ended September 30,

(Thousands)

​ ​ ​

2026

​ ​ ​

2025

​ ​ ​

2026

​ ​ ​

2025

Beverage Solutions

​

​

​

​

​

​

​

​

Net sales

​

$

220,119

​

$

263,029

​

$

703,310

​

$

635,922

Segment Adjusted EBITDA1

​

23,257

​

20,422

​

68,698

​

49,675

​

​

​

​

​

​

​

​

​

​

​

​

​

Sustainable Sourcing & Traceability

​

​

​

​

​

​

​

​

Net sales2

​

$

80,081

​

$

91,796

​

$

211,373

​

$

213,558

Segment Adjusted EBITDA1

​

3,154

​

5,755

​

11,573

​

10,998

​

1 - Segment Adjusted EBITDA is a segment performance measure, which is required by U.S. GAAP to be disclosed in accordance with FASB Accounting Standards Codification 280, Segment Reporting. Segment Adjusted EBITDA is defined consistently with Consolidated Adjusted EBITDA, except that it excludes scale-up costs related to our Conway Facility. Refer to the Notes to Condensed Consolidated Financial Statements included in our Quarterly Report on Form 10-Q for additional information regarding our segments and a reconciliation of Segment Adjusted EBITDA to loss before income taxes and equity in earnings from unconsolidated entities.

2 - Net of intersegment revenues.

​

​

​

​

​

​

​

​

​

Westrock Coffee Company

Calculation of Beverage Solutions Credit Agreement Secured Net Leverage Ratio

(Unaudited)

​

​	​	​	​	​
​	​	​	Trailing Twelve-Months
(Thousands, except leverage ratio)	​ ​ ​	​ ​ ​	Ended September 30, 2026
Beverage Solutions Segment Adjusted EBITDA	​	​	$	87,504
Permissible credit agreement adjustments(1)	​	​	​	5,538
Trailing Twelve-Months Credit Agreement Adjusted EBITDA	​	​	$	93,042
​	​	​	​	​
End of period:	​	​	​	​
Term loan facility	​	​	$	135,625
Delayed draw term loan facility	​	​	​	42,500
Revolving credit facility	​	​	​	145,000
Letters of credit outstanding	​	​	​	1,980
Secured debt	​	​	​	325,105
Beverage Solutions unrestricted cash and cash equivalents	​	​	​	(39,011)
Secured net debt	​	​	$	286,094
​	​	​	​	​
Beverage Solutions Credit Agreement secured net leverage ratio	​	​	​	3.07x

​

1 – Consists primarily of pro forma run-rate impact of cost savings initiatives, as permitted by the Prior Credit Agreement (as defined below).

​

​

The Company was required to maintain compliance with, among other things, a secured net leverage ratio under the terms of its prior credit agreement (the “Prior Credit Agreement”) among the Company, Westrock Beverage Solutions, LLC, as the borrower, Wells Fargo Bank, N.A., as administrative agent, collateral agent, and swingline lender, Wells Fargo Securities, LLC, as sustainability structuring agent, and each issuing bank and lender party thereto. The secured net leverage ratio was calculated as secured net debt divided by Adjusted EBITDA for the trailing twelve-month period, each as defined in the Prior Credit Agreement, and is applicable only to our Beverage Solutions segment.

​

Management believes that our secured net leverage ratio provides useful information to investors and other users of our financial data regarding the Company’s compliance with its material financial covenants. Failure to comply with the covenants in the Prior Credit Agreement or make payments when due could have resulted in an event of default, which, if not cured or waived, could have accelerated our repayment obligations under the Prior Credit Agreement and could have resulted in a default and acceleration under other agreements containing cross-default provisions. Under these circumstances, we might not have had sufficient funds or other resources to satisfy all of our obligations.

​

​

Westrock Coffee Company

Reconciliation of Net (Loss) Income to Non-GAAP Consolidated Adjusted EBITDA

(Unaudited)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​ ​ ​

Nine Months Ended

​

​

September 30,

​

September 30,

(Thousands)

​ ​ ​

2026

​ ​ ​

2025

​ ​ ​

2026

​ ​ ​

2025

Net loss

​

$

(9,976)

​

$

(19,103)

​

$

(32,166)

​

$

(67,884)

Interest expense

​

12,530

​

14,023

​

39,047

​

39,741

Income tax expense (benefit)

​

558

​

(122)

​

2,122

​

1,336

Depreciation and amortization

​

16,503

​

13,898

​

50,171

​

40,669

EBITDA

​

19,615

​

8,696

​

59,174

​

13,862

Transaction, restructuring and integration expense

​

3,790

​

3,029

​

10,626

​

7,297

Equity-based compensation

​

2,098

​

3,629

​

5,394

​

11,709

Conway extract and ready-to-drink facility pre-production costs

​

​

—

​

​

5,246

​

​

327

​

​

18,766

Mark-to-market adjustments

​

(152)

​

2,531

​

(4,669)

​

(983)

Loss on disposal of property, plant and equipment

​

492

​

8

​

1,545

​

15

Other

​

568

​

20

​

1,279

​

(3,946)

Consolidated Adjusted EBITDA

​

$

26,411

​

$

23,159

​

$

73,676

​

$

46,720

​

​

​

​

​

​

​

​

​

Non-GAAP Financial Measures

We refer to EBITDA and Consolidated Adjusted EBITDA in our analysis of our results of operations, which are not required by, or presented in accordance with, accounting principles generally accepted in the United States (“GAAP”). While we believe that net (loss) income, as defined by GAAP, is the most appropriate earnings measure, we also believe that EBITDA and Consolidated Adjusted EBITDA are important non-GAAP supplemental measures of operating performance as they contribute to a meaningful evaluation of the Company’s future operating performance and comparisons to the Company’s past operating performance. The Company believes that providing these non-GAAP financial measures helps investors evaluate the Company’s operating performance, profitability and business trends in a way that is consistent with how management evaluates such performance.

We define “EBITDA” as net (loss) income, as defined by GAAP, before interest expense, provision for income taxes and depreciation and amortization. We define “Consolidated Adjusted EBITDA” as EBITDA before equity-based compensation expense and the impact, which may be recurring in nature, of transaction, restructuring and integration related costs, impairment charges, non-cash mark-to-market adjustments, certain non-capitalizable costs necessary to place the Conway facility into commercial production, the write off of unamortized deferred financing costs, costs incurred as a result of the early repayment of debt, gains or losses on dispositions, and other similar or infrequent items (although we may not have had such charges in the periods presented). We believe EBITDA and Consolidated Adjusted EBITDA are important supplemental measures to net (loss) income because they provide additional information to evaluate our operating performance on an unleveraged basis.

Since EBITDA and Consolidated Adjusted EBITDA are not measures calculated in accordance with GAAP, they should be viewed in addition to, and not be considered as alternatives for, net (loss) income determined in accordance with GAAP. Further, our computations of EBITDA and Consolidated Adjusted EBITDA may not be comparable to that reported by other companies that define EBITDA and Consolidated Adjusted EBITDA differently than we do.

Filing Exhibits & Attachments

5 documents

Press Releases

• EX-99.1 EX-99.1 438.3 KB

Other Documents

• EX-101 EX-101.SCH 3.4 KB
• EX-101 EX-101.DEF 2.8 KB
• EX-101 EX-101.LAB 17.5 KB
• EX-101 EX-101.PRE 11.6 KB