Stock Monitor: Fuwei Films (Holdings) Post Earnings Reporting
LONDON, UK / ACCESSWIRE / May 23, 2018 / If you want access to our free earnings report on WestRock Co. (NYSE: WRK), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=WRK. On April 27, 2018, WestRock reported financial results for the first quarter of 2018 ending March 31, 2018. The Company matched analysts' estimates for earnings but missed revenue forecasts for Q2 FY18. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, WestRock most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
WestRock's total revenues reached $4.02 billion for Q2 FY18, reflecting an increase of 9.87% from $3.66 billion in Q2 FY17 mainly led by corrugated packaging and consumer packaging segment. The reported revenue number exceeded analysts' consensus estimates of $4.06 billion.
During Q2 FY18, WestRock's cost of goods sold was $3.22 billion, 8.03% higher than $2.98 billion in Q2 FY17. The Company incurred selling, general, and administrative expenses (including intangible amortization) of $456.40 million in the reported quarter, an increase of 14.47% from prior year's same quarter. The Company's restructuring and other costs for Q2 FY18 were $31.70 million, 73.22% higher than $18.30 million in Q2 FY17.
WestRock's operating profit advanced 64.97% to $308.50 million in the quarter under review from $187 million in the year-ago same quarter. Besides, the Company had adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) of $215.80 million in Q2 FY18, 57.17% higher than the $137.30 million reported in Q2 FY17.
Net income attributable to WestRock's common stockholders for the quarter ending March 31, 2018, was $223.20 million, an increase of 116.49% from $103.10 million in the same period last year. The Company's diluted earnings per share (DEPS) also jumped 115% to $0.86 in the reported quarter from $0.40 in the year-ago comparable quarter. The reported earnings included the impact of Tax Cuts and Jobs Act, restructuring expenses, land, and development operating results including impairment and certain other non-recurring items. WestRock's adjusted DEPS, excluding these non-recurring items, was $0.83 in Q2 FY18, up 53.70% from $0.54 in Q2 FY17. This was in-line with analysts' consensus estimates.
WestRock's Segment Details
During Q2 FY18, the Corrugated Packaging segment's net sales were $2.24billion, up 8.68% on a y-o-y basis driven by higher selling price/mix. This segment had adjusted EBITDA of $424.80 million in Q2 FY18 compared to $305.30 million in Q2 FY17, reflecting an increase of 39.14%.
The Consumer Packaging segment reported sales of $1.80 billion in Q2 FY18, an increment of 16.07% from Q2 FY17 primarily due to the contribution from the Multi Packaging Solutions acquisition. This segment had an adjusted EBITDA of $242.70 million in the quarter under review, up 3.23% from $235.10 million in the previous year's corresponding quarter.
For Q2 FY18, the Land and Development segment generated sales of $26.70 million,73.30% lower prior year's same quarter. This segment had an adjusted EBITDA of $16.20 million in Q2 FY18 compared to $17.70 million in Q2 FY17.
WestRock had cash and cash equivalents of $266.50 million as on March 31, 2018, 10.60% lower than $298.10 million as on September 30, 2017. The Company had a long-term debt (due after one-year) of $5.61 billion as on March 31, 2018, a decline of 5.60% from $5.95 billion as on September 30, 2018.
WestRock's net cash flow from operating activities was $371.60 million for the three months ending March 31, 2018, 23.99% higher than the $299.70 million reported in the same period last year. The Company had an adjusted operating cash flow of $379.50 million in the reported quarter.
WestRock incurred capital expenditure of $212.60 million in Q2 FY18, an increase of 12.37% from $189.20 million in Q2 FY17.
WestRock distributed cash dividends of $109.80 million in Q2 FY18, 9.04% higher than $100.70 million in Q2 FY17. The Company's cash distributions to non-controlling interests were $7.10 million in the reported quarter compared to $1.10 million in the previous year's same quarter.
WestRock's Board of Directors declared a regular quarterly dividend of $0.43 per share on its common stock payable on May 14, 2018, to stockholders of record as of the close of business on May 04, 2018.
Stock Performance Snapshot
May 22, 2018 - At Tuesday's closing bell, WestRock's stock was marginally down 0.05%, ending the trading session at $61.36.
Volume traded for the day: 1.71 million shares, which was above the 3-month average volume of 1.54 million shares.
Stock performance in the previous six-month period – up 3.13%; and past twelve-month period – up 17.30%
After yesterday's close, WestRock's market cap was at $15.78 billion.
Price to Earnings (P/E) ratio was at 20.66.
The stock has a dividend yield of 2.80%.
The stock is part of the Consumer Goods sector, categorized under the Packaging & Containers industry.
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