WestRock Achieves Record Net Sales In FY 2021
Box Shipments ( U.S. Corrugated Product Shipments) Industry Shipments In Billions of Square Feet Month September 2021
Atlanta, Georgia based WestRock Company achieved re- cord net sales for its 2021 fiscal year, which ended Sep- tember 30. According to its latest earnings report, the company achieved net sales of $18.7 billion in 2021, up seven percent compared to $17.6 billion for its 2020 fiscal year. The company achieved net sales of $5.1 billion for Q4, up 14 percent compared to $4.5 billion in the Q4 2020. The company earned net income of $838 million in the 2021 fiscal year compared with a net loss of $691 million in 2020. For Q4, WestRock achieved a net income of $324 million compared to a net loss of $1,156 million in the pri- or-year quarter, which included a $1,314 million goodwill impairment net of tax. WestRock’s adjusted segment EBIT- DA was $3 billion in its 2021 fiscal year compared to $2.8 billion in its 2020 fiscal year, and adjusted segment EBIT- DA was at $878 million in Q4, up 22 percent compared with $721 million in the prior-year quarter. “The WestRock team delivered strong results in fiscal 2021, with record net sales,” said David B. Sewell, CEO of WestRock. “We executed on our capital allocation pri- orities, and I’m pleased to say that we reached our target net leverage ratio in the quarter. In addition, we recently announced another increase to our dividend, which will result in a 25 percent increase since February.”
Year
Actual
Percent Change Avg Week Percent Change
2021 2020
34.261 34.901
-1.8
8.157 8.310
-1.8
Industry Total
Year-to Date
September 2021
Year
Actual
Percent Change Avg Week Percent Change
2021 2020
312.632 300.767
3.9
8.227 7.873
4.5
Industry Total
Containerboard Consumption (Thousands of Tons)
Year
Month
Percent Change Year-to-Date Percent Change
2021 2020
2.7786 2.8459
-2.4
25.4959 24.5672
3.8
Container Board Inventory - Corrugator Plants (Thousands of Tons)
Corrugator Plants Only
Date
Percent Change Weeks of Supply
Percent Change
Sept.
2.312
3.8
3.5 3.4
2.9
Aug
2.2272
Shipping Days
Year
Month
Year-to-Date
2021 2020
21 21
190 191
SOURCE: Fibre Box Association
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November 22, 2021
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