WestRock Company, a provider of differentiated paper and packaging solutions, announced results for its fourth quarter and fiscal year ended 30 September 2016.
Fourth Quarter 2016 Highlights
Recorded a loss of $0.34 per diluted share from continuing operations resulting from a $0.91 non-cash charge related to the transfer of certain pension plan assets and liabilities to a third partyEarned $0.71 of adjusted earnings per diluted share from continuing operationsGenerated net cash from operating activities of $382 million and adjusted free cash flow of $226 millionAchieved $89 million in year-over-year productivity improvements and an annual run rate of $500 million of synergy and performance improvements
Full Year 2016 Highlights
Earned $0.59 per diluted share from continuing operations and $2.53 of adjusted earnings per diluted share from continuing operationsGenerated net cash from operating activities of $1.7 billion and adjusted free cash flow of $1.03 billionCaptured $384 million of productivity improvementsImplemented its balanced capital allocation strategy by investing $797 million in capital expenditures, deploying $588 million to strategic M&A opportunities, paying $381 million in dividends and returning $335 million to stockholders in stock repurchasesSource: Company Press Release