NORCROSS, Ga., Dec. 08, 2017 (GLOBE NEWSWIRE) — WestRock Company (NYSE:WRK), a leading provider of differentiated paper and packaging solutions, today announced highlights of the Company’s 2017 Investor Day.
The Company presented information during Investor Day that highlighted:
- WestRock has the scale, differentiated strategy and the capabilities to generate attractive long-term returns for investors.
- The Company expects to increase adjusted EBITDA margins in its corrugated packaging and consumer packaging segments and generate significant cash flow over the next several years, and to deploy its capital to high-return internal projects and acquisitions, and return increasing capital to stockholders.
- WestRock has the opportunity to expand its margins and deploy its capital to grow adjusted EBITDA from $2.3 billion in fiscal year 2017, to more than $4 billion in fiscal year 2022.
WestRock reiterated its fiscal 2018 guidance for revenue of at least $16.3 billion, adjusted segment EBITDA of more than $2.8 billion and adjusted operating cash flow of at least $2.3 billion.
Steve Voorhees, chief executive officer of WestRock, commented, “We are proud of the progress we have made over the past two and a half years in building WestRock into a leading paper and packaging company. We are committed to continuing this momentum and delivering best-in-class, differentiated solutions that help our customers win in the marketplace. WestRock has the strategy, capabilities and team in place to generate attractive returns over the long term and create outstanding value for our customers, stockholders and employees.”
WestRock’s 2017 Investor Day was webcasted and is available for replay on the Investor Relations section of the Company’s website at http://ir.westrock.com. For further information, please contact WestRock’s investor relations department.
Forward looking Statements
This release contains forward-looking statements that are based on management’s current views and assumptions and are typically identified by words or phrases such as “may,” “will,” “could,” “should,” “would,” “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “target,” “prospects,” “potential” and “forecast,” and other words, terms and phrases of similar meaning. Forward-looking statements include statements that WestRock (a) has the scale, differentiated strategy and the capabilities to generate attractive long-term returns for investors, (b) expects to increase adjusted EBITDA margins in its corrugated packaging and consumer packaging segments and generate significant cash flow over the next several years, and to deploy its capital to high-return internal projects and acquisitions, and return increasing capital to stockholders, (c) has the opportunity to expand its margins and deploy its capital to grow adjusted EBITDA from $2.3 billion in fiscal year 2017 to more than $4 billion in fiscal year 2022, (d) expects revenue of at least $16.3 billion, adjusted segment EBITDA of more than $2.8 billion and adjusted operating cash flow of at least $2.3 billion in fiscal 2018, (e) will continue to deliver best in class, differentiated solutions that help its customers win in the marketplace and (f) has the strategy, capabilities and team in place to generate attractive returns over the long term and create outstanding value for its customers, stockholders and employees. Factors that may affect actual results include, but are not limited to, economic, competitive and market conditions generally, volumes and price levels of purchases by customers; our ability to realize anticipated synergies; and competitive conditions in our businesses and possible adverse actions of their customers, competitors and suppliers. Key assumptions related to forward-looking statements presented in this release include, but are not limited to, stable pricing, normal inflation offset by ongoing productivity and incremental returns from high-return projects and acquisitions. Please refer to the cautionary statements set forth in Item 1A of our Annual Report on Form 10-K for the year ended September 30, 2017. We undertake no duty to update forward-looking statements.
Forward-looking Guidance
This press release includes forward-looking guidance related to non-GAAP financial measures, such as adjusted EBITDA, adjusted segment EBITDA and adjusted operating cash flow. We believe the most directly comparable U.S. GAAP measures are net income, segment income and net cash provided by operating activities, respectively. We are not providing forward-looking guidance related to U.S. GAAP financial measures or reconciliations of forward-looking non-GAAP financial measures to the most directly comparable U.S. GAAP measures because of the inherent difficulty in predicting the occurrence, the financial impact and the periods in which potential non-GAAP adjustments may be recognized (e.g., merger and acquisition-related expenses, restructuring expenses, asset impairments, litigation settlements, changes to contingent consideration and certain other gains or losses). For the same reason, we are unable to address the probable significance of the unavailable information. These items are uncertain, depend on various factors, and could have a material impact on our U.S. GAAP reported results for the guidance period.
About WestRock
WestRock (NYSE:WRK) partners with our customers to provide differentiated paper and packaging solutions that help them win in the marketplace. WestRock’s 45,000 team members support customers around the world from more than 300 operating and business locations spanning North America, South America, Europe, Asia and Australia. Learn more at www.westrock.com.
WestRock
Investors:
Matt Tractenberg, 470-328-6327
Vice President – Head of Investor Relations
[email protected]
John Stakel, 678-291-7901
Senior Vice President – Treasurer
[email protected]
Media:
John Pensec, 470-328-6397
Director, Corporate Communications
[email protected]