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EX - 99.1 2 a52471641ex991.htm EXHIBIT 99.1 Exhibit 99.1 WestRock Reports Fiscal 2021 Third Quarter Results : Record Net Sales and 40 % Increase in Net Income ATLANTA -- ( BUSINESS WIRE ) -- August 5 , 2021 -- WestRock Company ( NYSE : WRK ) , a leading provider of differentiated , sustainable paper and packaging solutions , today announced results for its fiscal third quarter ended June 30 , 2021 . Notable items in the third quarter include : • • • . Record net sales of $ 4.8 billion increased 14 % compared to the prior year quarter Net income of $ 250 million increased 40 % compared to $ 179 million in the prior year quarter Adjusted Segment EBITDA of $ 811 million increased 15 % compared to $ 708 million in the prior year quarter Earned $ 0.93 per diluted share and $ 1.00 of Adjusted Earnings Per Diluted Share , an increase of 35 % and 32 % , respectively , compared to $ 0.69 per diluted share and $ 0.76 of Adjusted Earnings Per Diluted Share in the prior year quarter • Record third quarter North American per day box shipments increased 9 % compared to the prior year quarter . Successfully implementing published price increases across all major paper grades ; pricing realization outpaced inflation in the quarter • Generated net cash provided by operating activities of $ 751 million and Adjusted Free Cash Flow of $ 554 million compared to $ 740 million and $ 508 million , respectively , in the prior year quarter Reduced total debt by $ 270 million and Adjusted Net Debt by $ 482 million " We delivered excellent results in the third fiscal quarter , with record revenue and North American box shipments that drove a 35 % year - over - year increase in diluted earnings per share ” said David B. Sewell , chief executive officer . “ We saw strong demand for our products and solutions across our targeted end markets , and pricing gains outpaced inflation in the quarter . It was another quarter of strong cash flows , and we executed our capital allocation priorities , enabling us to approach our targeted net leverage range ahead of expectations . Looking forward , we remain well positioned for success and are committed to accelerating the opportunities we see across our differentiated portfolio , innovating to develop new sustainable , fiber - based packaging solutions and driving productivity to generate improved returns . "