WestRock Company (WRK - Free Report) reported second-quarter fiscal 2017 (ended Mar 31, 2017) adjusted earnings of 54 cents per share beating the Zacks Consensus Estimate of 47 cents by a margin of 15%.
Including one-time items, the company reported earnings of 40 cents per share in the quarter compared with 22 cents in the prior-year quarter.
Operational Update
WestRock’s total revenue rose 4.7 % year over year to $3.66 million. Moreover, revenues beat the Zacks Consensus Estimate of $3.55 billion. The year-over-year improvement in sales was primarily driven by increased sales in Corrugated Packaging segment as well as Land and Development segment that helped mitigate the decline in the Consumer Packaging segment’s sales.
Cost of sales went up 5% year over year to $2.98 billion in the quarter. Gross profit increased 3% to $675 million. Gross margin contracted 30 basis points (bps) to 18.5% in the quarter. Adjusted operating income was $277 million compared with $262 million in the prior-year quarter. Adjusted operating margin was 7.6% in the quarter compared with 7.5% in the prior-year quarter.
Westrock Company Price, Consensus and EPS Surprise
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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WestRock Company (WRK - Free Report) reported second-quarter fiscal 2017 (ended Mar 31, 2017) adjusted earnings of 54 cents per share beating the Zacks Consensus Estimate of 47 cents by a margin of 15%.
Including one-time items, the company reported earnings of 40 cents per share in the quarter compared with 22 cents in the prior-year quarter.
Operational Update
WestRock’s total revenue rose 4.7 % year over year to $3.66 million. Moreover, revenues beat the Zacks Consensus Estimate of $3.55 billion. The year-over-year improvement in sales was primarily driven by increased sales in Corrugated Packaging segment as well as Land and Development segment that helped mitigate the decline in the Consumer Packaging segment’s sales.
Cost of sales went up 5% year over year to $2.98 billion in the quarter. Gross profit increased 3% to $675 million. Gross margin contracted 30 basis points (bps) to 18.5% in the quarter. Adjusted operating income was $277 million compared with $262 million in the prior-year quarter. Adjusted operating margin was 7.6% in the quarter compared with 7.5% in the prior-year quarter.
Westrock Company Price, Consensus and EPS Surprise
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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