Stock Monitor: Fuwei Films Post Earnings Reporting
LONDON, UK / ACCESSWIRE / December 13, 2017 / Active-Investors free earnings report on WestRock Co. (NYSE: WRK) has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=WRK. The Company posted its financial results on November 02, 2017, for the fourth quarter of the fiscal year 2017. The corrugated packaging Company's revenue and adjusted EPS surpassed analysts' expectations. Register today and get free access to our complimentary member's area where many more reports are available:
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Earnings Highlights and Summary
For the three months ended September 30, 2017, WestRock's net revenue increased 12.4% to $4.06 billion from $3.61 billion in Q4 FY16, due to $495 million from acquisitions and $175 million in pricing gains, driven primarily by containerboard price increases. The Company's net revenue numbers surpassed analysts' expectations of $3.93 billion.
During FY17, the Company's net revenue increased 4.9% to $14.86 billion from $14.17 billion in the last year, surpassing analysts' expectations of $14.72 billion.
During Q4 FY17, WestRock's gross profit increased 8.2% to $778 million from $719.3 million in the same period of last year. For the reported quarter, the Company's gross margin decreased 70 basis points to 19.2% of revenue from 19.9% of revenue in the fourth quarter of last year.
During Q4 FY17, WestRock's operating income was $293.2 million versus an operating loss of $113.2 million for the comparable period of last year.
During FY17, the Company's operating income increased 94.1% to $835.0 million from $430.3 million in the last year.
For the reported quarter, WestRock's net income was $195.3 million compared to a net loss of $86.4 million in Q4 FY16. During Q4 FY17, the Company's diluted earnings per share (EPS) was positive $0.76 compared to negative $0.34 in the corresponding period of last year. For the reported quarter, WestRock's adjusted net income was $223.1 million, and adjusted diluted EPS was $0.87. The adjusted diluted EPS surpassed analysts' expectations of $0.81.
During FY17, the Company's net income increased 351.3% to $698.6 million from $154.8 million in the last year, while diluted EPS increased 369.5% to $2.77 from $0.59 in the last year. For FY17, the Company's adjusted diluted EPS was $2.62, surpassing analysts' expectations of $2.56.
Corrugated Packaging - During Q4 FY17, the Company's Corrugated Packaging segment's net revenue increased 11.7% to $2.24 billion from $2.00 billion in the same period of last year, due to a favorable corrugated selling price/mix and higher recycling net sales. For the reported quarter, the segment's income increased 19% to $229.0 million from $192.4 million in Q4 FY16. For the reported quarter, the segment's earnings before interest, tax, depreciation, and amortization (EBITDA) increased 13.6% to $385.7 million from $339.6 million in Q4 FY16.
Consumer Packaging - During Q4 FY17, the Company's Consumer Packaging segment's net revenue increased 15.1% to $1.87 billion from $1.62 billion in the comparable period of last year, due to an increase from acquisitions, principally MPS, and an $8 million increase related to foreign exchange. For the reported quarter, the segment's income decreased 10.4% to $124.6 million from $139.1 million in Q4 FY16. For the reported quarter, the segment's EBITDA increased 0.6% to $267.7 million from $266.1 million in Q4 FY16. For the reported quarter, the segment's adjusted EBITDA increased 4.5% to $279.6 million from $267.6 million in Q4 FY16.
Land and Development - During Q4 FY17, the Company's Land and Development segment's net revenue decreased 57.2% to $18.7 million from $43.7 million in the corresponding period of last year. For the reported quarter, the segment's income was negative $5.6 million compared to negative $1.6 million in Q4 FY16. For the reported quarter, the segment's EBITDA was negative $5.5 million compared to negative $1.4 million in Q4 FY16.
As on September 30, 2017, WestRock's cash and cash equivalents decreased 12.6% to $298.1 million from $340.9 million as on September 30, 2016. For the reported quarter, the Company's long-term debt increased 8.2% to $5.95 billion from $5.50 billion in Q4 FY16.
For the reported quarter, the Company's net accounts receivable increased 18.5% to $1.89 billion from $1.59 billion in Q4 FY16. For the reported quarter, the Company's accounts payable increased 41.5% to $1.49 billion from $1.05 billion in the fourth quarter of 2016.
During Q4 FY17, WestRock's cash provided by operating activities increased 29.5% to $494.3 million from $381.6 million in the same period of last year.
Stock Performance Snapshot
December 12, 2017 - At Tuesday's closing bell, WestRock's stock slightly declined 0.75%, ending the trading session at $63.94.
Volume traded for the day: 1.52 million shares, which was above the 3-month average volume of 1.49 million shares.
Stock performance in the last month – up 9.00%; previous three-month period – up 11.53%; past twelve-month period – up 25.20%; and year-to-date – up 25.94%
After yesterday's close, WestRock's market cap was at $16.24 billion.
Price to Earnings (P/E) ratio was at 23.10.
The stock has a dividend yield of 2.69%.
The stock is part of the Consumer Goods sector, categorized under the Packaging & Containers industry. This sector was flat at the end of the session.
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