Back to top

WestRock's (WRK) Q3 Earnings, Revenues Beat Estimates
August 03, 2017

Read MoreHide Full Article

WestRock Company (WRK - Free Report) is a provider of paper and packaging solutions to consumer and corrugated markets.  WestRock was formed from the merger of MeadWestvaco Company and Rock-Tenn Company on Jul 1, 2015. WestRock is realizing the strategic benefits of the merger

WestRock expects to exceed an $800 million run rate by the end of fiscal year 2017 and remains well on track to achieve its $1 billion target by the end of the June quarter of fiscal 2018 and is two third of the way to reach this goal. The company’s productivity and performance improvement programs across its manufacturing footprint as well as its cost-saving actions remain tailwinds. WestRock's recent acquisitions to augment its corrugated packaging business will help it capitalize on the growing demand.

Let’s have a quick look at the third-quarter fiscal 2017 earnings release of the company.

Estimate Trend & Surprise History

Investors should note that the earnings estimate for WestRock for the fiscal third quarter 2017 has moved north 2% over the past 30 days and currently stands at 64 cents. 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 9.79%.

Westrock Company Price and EPS Surprise
 

Westrock Company Price and EPS Surprise | Westrock Company Quote

Earnings

WestRock posted adjusted earnings of 74 cents per share in the third-quarter fiscal 2017, ahead of the Zacks Consensus Estimate of 64 cents. Investors should note that these figures take out special items.

Revenue

WestRock posted revenues of $3.696 billion in the reported quarter, surpassing the Zacks Consensus Estimate of $3.561 billion.

Key Developments

WestRock stated that is has achieved $94 million in year-over-year productivity improvements and annual run rate of $760 million of synergy and performance improvements.

Zacks Rank

Currently, WestRock has a Zacks Rank #3 (Hold), but that could change following WestRock’s earnings report which was just released.

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’s earnings report later!

More Stock News: Tech Opportunity Worth $386 Billion in 2017

From driverless cars to artificial intelligence, we've seen an unsurpassed growth of high-tech products in recent months. Yesterday's science-fiction is becoming today's reality. Despite all the innovation, there is a single component no tech company can survive without. Demand for this critical device will reach $387 billion this year alone, and it's likely to grow even faster in the future.

Zacks has released a brand-new Special Report to help you take advantage of this exciting investment opportunity. Most importantly, it reveals 4 stocks with massive profit potential.

See these stocks now>>




In-Depth Zacks Research for the Tickers Above


Normally $25 each - click below to receive one report FREE:


Westrock Company (WRK) - free report >>


More from Zacks Tale of the Tape

You May Like