Printing Industry News for Canada | RSS |
8 February 2023
Westrock Packaging Profits Down 75%
—
Packaging giant WestRock released its first-quarter earnings and though the company says it remains committed to executing its strategy. The company reports a first-quarter net income of $45.3 million, down 75.2 percent from the same period in 2021 when it reported $182.3 million in net income.
Net sales decreased year over year by 0.6 percent, or $29 million.
WestRock says the steep decline in net income was driven by increased net cost inflation, lower volumes, economic downtime and costs related to its acquisition of Grupo Gondi in July of last year. Westrock has pulled its full-year 2023 guidance because of uncertain market conditions. Westrock has plants in Alberta, Saskatchewan , Manitoba , Ontario and Quebec for a total of 12 in Canada. They produce folding cartons, corrugated and specialty packaging. They are based out of Atlanta Georgia.
Comments (2) Post a Comment
Comments:
2. Hassie Olden says:
Hi printcan.com webmaster, You always provide practical solutions and recommendations.
1. Kristopher Boulger says:
Dear printcan.com owner, Great job!
NEW ON THE JOB BOARD | RSS
CLICK HERE to post your job opening
LATEST USED EQUIPMENT | RSS
CLICK HERE to list your equipment
Total Used Equipment Listings: 18
CLASSIFIED | RSS
CLICK HERE to list your business opportunity in the printing industry
Company wanted |
Most Recent News Comment
Rick says: | |
Most Read Stories