WestRock Company (WRK Quick QuoteWRK - Free Report) is a provider of paper and packaging solutions to consumer and corrugated markets. The company reported second-quarter fiscal 2018 results, wherein adjusted earnings of 83 cents came in line with the Zacks Consensus Estimate of 83 cents.

 

Revenue: WestRock missed on the revenue front. It reported revenues of $4,017 million in the fiscal second quarter, lagging the Zacks Consensus Estimate of $4,064 million.

 

Earnings Estimates Revision: Investors should note that the earnings estimate for WestRock for the fiscal second quarter has remained stable over the past 30 days. Coming to the earnings surprise, WestRock has surpassed the Zacks Consensus Estimate in all the four trailing quarters, delivering an average positive earnings surprise of 13.5%.

 

 

You can see the complete list of today’s Zacks #1 Rank stocks here.

 

Key Development: WestRock initiated integration planning for the planned acquisition of KapStone Paper and Packaging Corporation which is expected to close by the end of the September quarter or during the December quarter. Upon closing, the acquisition is expected to be immediately accretive to WestRock’s adjusted earnings and cash flow.

 

Market Reaction: WestRock’s shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.

 

Check back later for our full write up on this WestRock earnings report later!

 

 

Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.

 

Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.