Westrock Coffee (NASDAQ: WEST) lifts EBITDA, reaffirms 2026 outlook and leverage ratio

Rhea-AI Filing Summary

Westrock Coffee Company reported second quarter 2026 results showing higher sales and improved profitability metrics but continued net losses. Net sales for the quarter were $305,658 thousand, up from $280,859 thousand a year earlier, with gross profit of $37,748 thousand. The company recorded an operating loss of $1,350 thousand, narrowing from $15,013 thousand in the prior-year quarter, and a net loss of $13,657 thousand or $(0.14) per share versus $(0.23) per share last year. For the first six months of 2026, net sales were $614,483 thousand and net loss was $22,190 thousand.

Consolidated Adjusted EBITDA rose to $21,297 thousand in the quarter and $47,265 thousand year-to-date, compared with $15,338 thousand and $23,561 thousand in the prior-year periods. Management highlighted a fifth consecutive quarter of year-over-year Consolidated Adjusted EBITDA growth and stated that free cash flow turned positive ahead of its anticipated schedule. Net cash provided by operating activities was $14,898 thousand for the first half of 2026, compared with a use of cash in 2025. At June 30, 2026, total assets were $1,085,848 thousand, total liabilities were $843,791 thousand, and common shareholders’ equity reflected a deficit of $31,273 thousand. The Beverage Solutions Credit Agreement secured net leverage ratio was 3.36x, and the company stated it is in compliance with its financial covenants. Westrock Coffee reaffirmed its 2026 guidance for Consolidated Adjusted EBITDA of $90.0 million to $100.0 million.

Positive

• Consolidated Adjusted EBITDA strengthened, reaching $21.3M in Q2 2026 and $47.3M for the first half, up from $15.3M and $23.6M in the prior-year periods.
• Operating cash flow turned positive, with net cash provided by operating activities of $14.9M for the first six months of 2026, compared with a use of cash in the prior year.
• The company reaffirmed 2026 Consolidated Adjusted EBITDA guidance of $90.0M to $100.0M, maintaining its previously communicated full-year outlook.

Negative

• Westrock Coffee remains loss-making, reporting a Q2 2026 net loss of $13.7M and a first-half 2026 net loss of $22.2M.
• Common shareholders’ equity is in deficit, with total shareholders’ equity (deficit) at $(31.3)M as of June 30, 2026, compared with a smaller deficit at year-end 2025.

Filing Explained

At June 30, cash and restricted cash totaled $48,375 thousand, while first-half financing activities used $32,229 thousand.

Form 8-K reports specified material events; this filing reports Westrock Coffee Company’s second-quarter results for the period ended June 30, 2026. Its press release is furnished as Exhibit 99.1 rather than filed, so the filing’s current state is a results disclosure, not a new transaction record.

The balance sheet shows $38,233 thousand of cash and equivalents plus $10,142 thousand of restricted cash at June 30, 2026, for total cash and restricted cash of $48,375 thousand. During the first six months, cash and equivalents and restricted cash decreased by $22,664 thousand; financing activities used $32,229 thousand, including debt and supply-chain-finance payments.

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, and exhibit attachments filed with this report.

Key Figures

Net sales Q2 2026: $305,658 thousand Net loss Q2 2026: $13,657 thousand Consolidated Adjusted EBITDA Q2 2026: $21,297 thousand +5 more

8 metrics

Net sales Q2 2026 $305,658 thousand Three months ended June 30, 2026

Net loss Q2 2026 $13,657 thousand Three months ended June 30, 2026

Consolidated Adjusted EBITDA Q2 2026 $21,297 thousand Three months ended June 30, 2026

Net cash provided by operating activities H1 2026 $14,898 thousand Six months ended June 30, 2026

Total assets June 30, 2026 $1,085,848 thousand Condensed Consolidated Balance Sheet

Total shareholders' equity (deficit) June 30, 2026 $(31,273) thousand Common shareholders’ equity position

Beverage Solutions secured net leverage ratio 3.36x Credit Agreement secured net leverage ratio

2026 Consolidated Adjusted EBITDA guidance $90.0–$100.0 million Full-year 2026 financial outlook

Key Terms

Consolidated Adjusted EBITDA, Segment Adjusted EBITDA, secured net leverage ratio, supply chain finance program, +1 more

5 terms

Consolidated Adjusted EBITDA financial

"It was the fifth consecutive quarter of year-over-year Consolidated Adjusted EBITDA growth"

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.

Segment Adjusted EBITDA financial

"Segment Adjusted EBITDA is a segment performance measure, which is required by U.S. GAAP"

Segment adjusted EBITDA is a measure of how much profit a specific part of a company generates from its everyday operations, before counting interest, taxes, depreciation, amortization and one‑off items. Investors use it like checking the fuel efficiency of one car in a fleet: it helps compare which business lines truly earn money, evaluate trend performance, and decide where to invest or cut costs without distortions from financing or accounting choices.

secured net leverage ratio financial

"Beverage Solutions Credit Agreement secured net leverage ratio"

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 | 97,532 | 96,594"

mark-to-market adjustments financial

"Mark-to-market adjustments | (4,517) | (3,514)"

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 Q2 2026: $305,658 thousand · Guidance included

three and six months ended June 30, 2026

Net sales Q2 2026 $305,658 thousand vs $280,859 thousand in Q2 2025

Net loss Q2 2026 $(13,657) thousand vs $(21,563) thousand in Q2 2025

Consolidated Adjusted EBITDA Q2 2026 $21,297 thousand vs $15,338 thousand in Q2 2025

Net cash from operating activities H1 2026 $14,898 thousand vs $(29,073) thousand in H1 2025

Guidance

Consolidated Adjusted EBITDA of $90.0 million to $100.0 million for full-year 2026.

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

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FAQ

How did Westrock Coffee (WEST) perform financially in Q2 2026?

Westrock Coffee reported Q2 2026 net sales of $305.7M, up from $280.9M a year earlier, with a net loss of $13.7M. Operating loss narrowed to $1.4M, and Consolidated Adjusted EBITDA increased to $21.3M.

What were Westrock Coffee’s (WEST) results for the first half of 2026?

For the six months ended June 30, 2026, Westrock Coffee generated net sales of $614.5M and a net loss of $22.2M. Consolidated Adjusted EBITDA was $47.3M, compared with $23.6M in the prior-year period.

What 2026 guidance did Westrock Coffee (WEST) reaffirm?

Westrock Coffee reaffirmed its 2026 guidance for Consolidated Adjusted EBITDA of $90.0M to $100.0M. This outlook was originally provided in a March 10, 2026 earnings release and remains unchanged in the latest update.

How is Westrock Coffee’s (WEST) balance sheet positioned as of June 30, 2026?

As of June 30, 2026, Westrock Coffee reported $1.09B in total assets and $843.8M in total liabilities. Series A Convertible Preferred Shares totaled $273.3M, and common shareholders’ equity showed a deficit of $31.3M.

What leverage and covenant metrics did Westrock Coffee (WEST) disclose?

Westrock Coffee reported a Beverage Solutions Credit Agreement secured net leverage ratio of 3.36x, based on secured net debt of $313.1M and Credit Agreement Adjusted EBITDA of $93.2M. The company stated it is in compliance with its financial covenants.

How did Westrock Coffee’s (WEST) cash flow change in the first half of 2026?

Net cash provided by operating activities was $14.9M for the first half of 2026, compared with a use of cash in 2025. Net cash used in investing activities was $5.3M, and net cash used in financing activities was $32.2M.

How did Westrock Coffee’s (WEST) business segments perform in Q2 2026?

In Q2 2026, the Beverage Solutions segment generated net sales of $243.9M and Segment Adjusted EBITDA of $22.2M. The Sustainable Sourcing & Traceability segment delivered net sales of $61.8M and Segment Adjusted EBITDA of $2.0M.

0001806347false00018063472026-08-062026-08-06

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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): August 6, 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 August 6, 2026, Westrock Coffee Company (the “Company”) issued a press release announcing its financial results for the second quarter ended June 30, 2026. The second 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 August 6, 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: August 6, 2026

​

​

​

Exhibit 99.1

​

Westrock Coffee Company Reports Second Quarter 2026 Results

and Reaffirms 2026 Outlook

​

LITTLE ROCK, Ark., August 6, 2026 (GLOBE NEWSWIRE) – Westrock Coffee Company (Nasdaq: WEST) (“Westrock Coffee” or the “Company”) today reported financial results for the second quarter ended June 30, 2026.

Second Quarter Highlights¹

​

● Consolidated Results

o Net sales were $305.7 million, an increase of 8.8%

o Gross profit was $37.7 million, a decrease of 8.8%

o Net loss was $13.7 million, compared to a net loss of $21.6 million in the prior year period

o Consolidated Adjusted EBITDA² was $21.3 million, up 38.9% compared to Consolidated Adjusted EBITDA of $15.3 million in the prior year period

o Capital expenditures of $6.5 million, down from $20.5 million in the second quarter of 2025, continuing the structural shift in the Company’s capital intensity

● Segment Results

o Beverage Solutions

◾ Net sales were $243.9 million, an increase of 16.8%

◾ Segment Adjusted EBITDA³ was $22.2 million, an increase of 12.7%

o Sustainable Sourcing & Traceability

◾ Net sales were $61.8 million, a decrease of 14.2%

◾ Segment Adjusted EBITDA³ was $2.0 million compared to $3.3 million for the prior year period

Commenting on our results, Scott T. Ford, CEO and Co-founder stated, "The second quarter was another strong quarter for Westrock Coffee.  It was the fifth consecutive quarter of year-over-year Consolidated Adjusted EBITDA growth, and we turned free cash flow positive ahead of our anticipated schedule.  With a robust customer and sales pipeline, de-leveraged balance sheet, and a platform that no longer requires capital but is generating cash, our momentum continues to build.”

​

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.

​

​

​

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.

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, CPG, 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, 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)	​ ​ ​	June 30, 2026		​ ​ ​	December 31, 2025
ASSETS	​	​	​	​	​	​
Cash and cash equivalents	​	$	38,233	​	$	49,875
Restricted cash	​	​	10,142	​	​	21,164
Accounts receivable, net of allowance for credit losses of $3,217 and $2,750, respectively	​	​	76,699	​	​	94,099
Inventories	​	​	167,522	​	​	199,802
Derivative assets	​	​	24,446	​	​	15,049
Prepaid expenses and other current assets	​	​	13,275	​	​	16,370
Total current assets	​	​	330,317	​	​	396,359
​	​	​	​	​	​	​
Property, plant and equipment, net	​	​	459,232	​	​	483,606
Goodwill	​	​	116,111	​	​	116,111
Intangible assets, net	​	​	103,268	​	​	107,141
Operating lease right-of-use assets	​	​	61,438	​	​	60,310
Other long-term assets	​	​	15,482	​	​	12,451
Total Assets	​	$	1,085,848	​	$	1,175,978
​	​	​	​	​	​	​
LIABILITIES, CONVERTIBLE PREFERRED SHARES AND SHAREHOLDERS' EQUITY (DEFICIT)	​	​	​	​	​	​
Current maturities of long-term debt	​	$	22,594	​	$	19,281
Short-term debt	​	​	55,810	​	​	82,640
Accounts payable	​	​	68,185	​	​	91,175
Supply chain finance program	​	​	97,532	​	​	96,594
Derivative liabilities	​	​	7,440	​	​	28,600
Accrued expenses and other current liabilities	​	​	90,192	​	​	95,340
Total current liabilities	​	​	341,753	​	​	413,630
​	​	​	​	​	​	​
Long-term debt, net	​	​	365,466	​	​	356,788
Convertible notes payable - related party, net	​	​	64,839	​	​	64,754
Deferred income taxes	​	​	11,492	​	​	10,160
Operating lease liabilities	​	​	59,375	​	​	58,146
Other long-term liabilities	​	​	866	​	​	865
Total liabilities	​	​	843,791	​	​	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 June 30, 2026 and December 31, 2025, respectively, $11.50 liquidation value	​	​	273,330	​	​	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, 97,627 shares and 96,866 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	​	​	976	​	​	969
Additional paid-in-capital	​	​	547,073	​	​	544,567
Accumulated deficit	​	​	(556,560)	​	​	(534,370)
Accumulated other comprehensive income (loss)	​	​	(22,762)	​	​	(13,034)
Total shareholders' equity (deficit)	​	​	(31,273)	​	​	(1,868)
​	​	​	​	​	​	​
Total Liabilities, Convertible Preferred Shares and Shareholders' Equity (Deficit)	​	$	1,085,848	​	$	1,175,978

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Westrock Coffee Company

Condensed Consolidated Statements of Operations

(Unaudited)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended June 30,

​

Six Months Ended June 30,

(Thousands, except per share data)

​ ​ ​

2026

​ ​ ​

2025

​ ​ ​

2026

​ ​ ​

2025

Net sales

​

$

305,658

​

$

280,859

​

$

614,483

​

$

494,655

Costs of sales

​

​

267,910

​

​

239,464

​

​

530,967

​

​

424,187

Gross profit

​

​

37,748

​

​

41,395

​

​

83,516

​

​

70,468

​

​

​

​

​

​

​

​

​

​

​

​

​

Selling, general and administrative expense

​

​

35,973

​

​

53,931

​

​

73,819

​

​

94,275

Transaction, restructuring and integration expense

​

​

3,168

​

​

2,477

​

​

6,836

​

​

4,268

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

​

​

(43)

​

​

—

​

​

1,053

​

​

7

Total operating expenses

​

​

39,098

​

​

56,408

​

​

81,708

​

​

98,550

Income (loss) from operations

​

​

(1,350)

​

​

(15,013)

​

​

1,808

​

​

(28,082)

​

​

​

​

​

​

​

​

​

​

​

​

​

Other (income) expense

​

​

​

​

​

​

​

​

​

​

​

​

Interest expense

​

​

12,990

​

​

13,119

​

​

26,517

​

​

25,718

Other, net

​

​

(117)

​

​

(2,692)

​

​

(606)

​

​

(2,970)

Loss before income taxes and equity in earnings from unconsolidated entities

​

​

(14,223)

​

​

(25,440)

​

​

(24,103)

​

​

(50,830)

Income tax expense (benefit)

​

​

(400)

​

​

(370)

​

​

1,564

​

​

1,458

Equity in (earnings) loss from unconsolidated entities

​

​

(166)

​

​

(3,507)

​

​

(3,477)

​

​

(3,507)

Net loss

​

$

(13,657)

​

$

(21,563)

​

$

(22,190)

​

$

(48,781)

Amortization (accretion) of Series A Convertible Preferred Shares

​

​

87

​

​

86

​

​

173

​

​

172

Net loss attributable to common shareholders

​

$

(13,570)

​

$

(21,477)

​

$

(22,017)

​

$

(48,609)

​

​

​

​

​

​

​

​

​

​

​

​

​

(Loss) earnings per common share:

​

​

​

​

​

​

​

​

​

​

​

​

Basic

​

$

(0.14)

​

$

(0.23)

​

$

(0.23)

​

$

(0.51)

Diluted

​

$

(0.14)

​

$

(0.23)

​

$

(0.23)

​

$

(0.51)

​

​

​

​

​

​

​

​

​

​

​

​

​

Weighted-average number of shares outstanding:

​

​

​

​

​

​

​

​

​

​

​

​

Basic

​

​

97,579

​

​

94,661

​

​

97,298

​

​

94,480

Diluted

​

​

97,579

​

​

94,661

​

​

97,298

​

​

94,480

​

​

​

​

​

​

​

​

Westrock Coffee Company

Condensed Consolidated Statements of Cash Flows

(Unaudited)

​

​	​	​	​	​	​	​
​	​	Six Months Ended June 30,
(Thousands)	​ ​ ​	2026		​ ​ ​	2025
Cash flows from operating activities:	​	​	​	​	​	​
Net loss	​	$	(22,190)	​	$	(48,781)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:	​	​	​	​	​	​
Depreciation and amortization	​	​	33,668	​	​	26,771
Equity-based compensation	​	​	3,296	​	​	8,080
Provision for credit losses	​	​	716	​	​	(22)
Amortization of deferred financing fees included in interest expense	​	​	2,488	​	​	1,755
Write-off of unamortized deferred financing fees	​	​	168	​	​	137
Loss on disposal of property, plant and equipment	​	​	1,053	​	​	7
Gain on de-consolidation of Rwanda Trading Company	​	​	—	​	​	(2,291)
Mark-to-market adjustments	​	​	(4,517)	​	​	(3,514)
Foreign currency transactions	​	​	—	​	​	(141)
Deferred income tax expense (benefit)	​	​	1,316	​	​	1,458
Equity in (earnings) loss from unconsolidated entities	​	​	(3,477)	​	​	(3,507)
Other	​	​	522	​	​	769
Change in operating assets and liabilities:	​	​	​	​	​	​
Accounts receivable	​	​	8,720	​	​	12,154
Inventories	​	​	34,544	​	​	(43,345)
Derivative assets and liabilities	​	​	(38,038)	​	​	(8,388)
Prepaid expense and other assets	​	​	5,828	​	​	1,520
Accounts payable	​	​	(21,505)	​	​	10,931
Accrued liabilities and other	​	​	12,306	​	​	17,334
Net cash provided by (used in) operating activities	​	​	14,898	​	​	(29,073)
Cash flows from investing activities:	​	​	​	​	​	​
Additions to property, plant and equipment	​	​	(13,605)	​	​	(61,826)
Additions to intangible assets	​	​	(49)	​	​	(40)
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	​	​	361	​	​	316
Proceeds from deferred purchase price of sold trade receivables	​	​	7,964	​	​	—
Net cash used in investing activities	​	​	(5,329)	​	​	(64,002)
Cash flows from financing activities:	​	​	​	​	​	​
Payments on debt	​	​	(75,616)	​	​	(46,799)
Proceeds from debt	​	​	60,344	​	​	131,373
Payments on supply chain financing program	​	​	(96,804)	​	​	(79,847)
Proceeds from supply chain financing program	​	​	97,742	​	​	99,309
Payment of debt issuance costs	​	​	(1,736)	​	​	(2,354)
Net proceeds from (repayments of) repurchase agreements	​	​	(7,285)	​	​	9,769
Net change in unremitted cash collections from servicing factored receivables	​	​	(7,918)	​	​	—
Payment for taxes for net share settlement of equity awards	​	​	(956)	​	​	(1,564)
Net cash (used in) provided by financing activities	​	​	(32,229)	​	​	109,887
Effect of exchange rate changes on cash	​	​	(4)	​	​	(52)
Net increase (decrease) in cash and cash equivalents and restricted cash	​	​	(22,664)	​	​	16,760
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	​	$	48,375	​	$	52,324

​

​

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

​

​	​	​	​	​	​	​
(Thousands)	​ ​ ​	June 30, 2026		​ ​ ​	June 30, 2025
Cash and cash equivalents	​	$	38,233	​	$	43,956
Restricted cash	​	​	10,142	​	​	8,368
Total	​	$	48,375	​	$	52,324

​

​

​

​

​

​

Westrock Coffee Company

Summary of Segment Results

(Unaudited)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended June 30,

​

Six Months Ended June 30,

(Thousands)

​ ​ ​

2026

​ ​ ​

2025

​ ​ ​

2026

​ ​ ​

2025

Beverage Solutions

​

​

​

​

​

​

​

​

Net sales

​

$

243,870

​

$

208,814

​

$

483,192

​

$

372,893

Segment Adjusted EBITDA1

​

22,167

​

19,670

​

45,441

​

29,253

​

​

​

​

​

​

​

​

​

​

​

​

​

Sustainable Sourcing & Traceability

​

​

​

​

​

​

​

​

Net sales2

​

$

61,788

​

$

72,045

​

$

131,291

​

$

121,762

Segment Adjusted EBITDA1

​

1,959

​

3,315

​

8,419

​

5,243

​

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)

​

​	​	​	​	​
​	​	​	​
(Thousands, except leverage ratio)	​ ​ ​	​ ​ ​	Trailing Twelve-Months
Beverage Solutions Segment Adjusted EBITDA	​	​	$	84,669
Permissible credit agreement adjustments(1)	​	​	​	8,505
Trailing Twelve-Months Credit Agreement Adjusted EBITDA	​	​	$	93,174
​	​	​	​	​
End of period:	​	​	​	​
Term loan facility	​	​	$	138,906
Delayed draw term loan facility	​	​	​	43,438
Revolving credit facility	​	​	​	165,000
Letters of credit outstanding	​	​	​	1,980
Secured debt	​	​	​	349,324
Beverage Solutions unrestricted cash and cash equivalents	​	​	​	(36,177)
Secured net debt	​	​	$	313,147
​	​	​	​	​
Beverage Solutions Credit Agreement secured net leverage ratio	​	​	​	3.36x

​

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

​

​

The Company is required to maintain compliance with, among other things, a secured net leverage ratio under the terms of its credit agreement (the “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 is calculated as secured net debt divided by Adjusted EBITDA for the trailing twelve-month period, each as defined in the 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 Credit Agreement or make payments when due could result in an event of default, which, if not cured or waived, could accelerate our repayment obligations under the Credit Agreement and could result in a default and acceleration under other agreements containing cross-default provisions. Under these circumstances, we might not have sufficient funds or other resources to satisfy all of our obligations. As of the date of this press release, the Company is in compliance with its financial covenants.

​

​

Westrock Coffee Company

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

(Unaudited)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​ ​ ​

Six Months Ended

​

​

June 30,

​

June 30,

(Thousands)

​ ​ ​

2026

​ ​ ​

2025

​ ​ ​

2026

​ ​ ​

2025

Net loss

​

$

(13,657)

​

$

(21,563)

​

$

(22,190)

​

$

(48,781)

Interest expense

​

12,990

​

13,119

​

26,517

​

25,718

Income tax expense (benefit)

​

(400)

​

(370)

​

1,564

​

1,458

Depreciation and amortization

​

17,104

​

15,016

​

33,668

​

26,771

EBITDA

​

16,037

​

6,202

​

39,559

​

5,166

Transaction, restructuring and integration expense

​

3,168

​

2,477

​

6,836

​

4,268

Equity-based compensation

​

1,565

​

4,750

​

3,296

​

8,080

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

​

​

49

​

​

9,072

​

​

327

​

​

13,520

Mark-to-market adjustments

​

565

​

(1,441)

​

(4,517)

​

(3,514)

Loss on disposal of property, plant and equipment

​

(43)

​

—

​

1,053

​

7

Other

​

(44)

​

(5,722)

​

711

​

(3,966)

Consolidated Adjusted EBITDA

​

$

21,297

​

$

15,338

​

$

47,265

​

$

23,561

​

​

​

​

​

​

​

​

​

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-99.1 431.2 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 11.5 KB