Research Desk Line-up: Fuwei Films Post Earnings Coverage
LONDON, UK / ACCESSWIRE / August 22, 2017 /Pro-Trader Daily has just published a free post-earnings coverage on WestRock Co. (NYSE: WRK), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=WRK, following the Company's release of its financial results on August 03, 2017, for the third quarter of the fiscal year 2017. The Company's revenue increased 2.8% on a y-o-y basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
Get more of our free earnings reports coverage from other constituents of the Packaging & Containers industry. Pro-TD has currently selected Fuwei Films (Holdings) Co., Ltd. (NASDAQ: FFHL) for due-diligence and potential coverage as the Company announced on August 17, 2017, its unaudited financial results for Q2 and first half 2017 which ended on June 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Fuwei Films when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on WRK; also brushing on FFHL. With the links below you can directly download the report of your stock of interest free of charge at:
For the three months ended June 30, 2017, WestRock's revenue increased 2.8% to $3.70 billion on a y-o-y basis from $3.60 billion in Q3 FY16. The increase was due to increased sales in the Corrugated Packaging segment as well as the Land and Development segment. The revenue surpassed analysts' expectations of $3.56 billion.
For the reported quarter, WestRock's gross profit decreased 4.4% to $695.5 million from $727.3 million in Q3 FY16. During Q3 FY17, the Company's gross margin was 18.8% compared to 20.2% in Q3 FY16.
During Q3 FY17, the Company's earnings before interest, tax, depreciation, and amortization (EBITDA) decreased 4.1% to $583.1 million from $607.9 million in Q3 FY16. For the reported quarter, WestRock's adjusted EBITDA decreased 2% to $597.5 million from $609.9 million in Q3 FY16.
For the reported quarter, WestRock's operating profit decreased 19.4% to $233.4 million from $289.4 million in Q3 FY16. During Q3 FY17, the Company's adjusted operating profit decreased 11.7% to $293 million from $332 million in the same quarter of last year.
During Q3 FY17, WestRock's net income was $326.6 million compared to $152.4 million in Q3 FY16. For the reported quarter, the Company's adjusted net income increased 7.6% to $189.9 million on a y-o-y basis from $176.5 million in Q3 FY16. During Q3 FY17, WestRock's diluted earnings per share (EPS) was $1.29 compared to $0.59 in Q3 FY16. For the reported quarter, the Company's adjusted diluted EPS increased 7.2% to $0.74 on a y-o-y basis from $0.69 in Q3 FY16. The adjusted diluted EPS surpassed analysts' expectations of $0.64.
On July 28, 2017, the Company's Board of Directors declared a quarterly dividend of $0.40 per share on common stock payable on August 21, 2017, to stockholders of record as of the close of business on August 11, 2017.
On August 01, 2017, WestRock announced that the Company acquired Hanna Group Pty Ltd (Hannapak), one of Australia's leading providers of folding cartons.
Corrugated Packaging - During Q3 FY17, WestRock's Corrugated Packaging segment's revenue decreased 9.6% to $2.16 billion from $1.97 million in Q3 FY16. For the reported quarter, the segment's income increased 16.4% to $223.9 million from $192.4 million in Q3 FY16. During Q3 FY17, the segment's EBITDA increased 11.3% to $374.4 million from $336.5 million in the same quarter of last year. During Q3 FY17, the segment's adjusted EBITDA was $375.1 million compared to $339.3 million in Q3 FY16. During Q3 FY17, the segment's adjusted EBITDA margin was $18.1% versus 17.9% in Q3 FY16.
Consumer Packaging - During Q3 FY17, WestRock's Consumer Packaging segment's revenue decreased 7.3% to $1.52 billion from $1.64 billion in Q3 FY16. For the reported quarter, the segment's income decreased 37.5% to $94.8 million from $151.7 million in Q3 FY16. During Q3 FY17, the segment's EBITDA decreased 21.5% to $216.6 million from $275.9 million in Q3 FY16. During Q3 FY17, the segment's adjusted EBITDA was $229.8 million compared to $275.1 million in Q3 FY16. During Q3 FY17, the segment's adjusted EBITDA margin was $15.1% versus 16.8% in Q3 FY16.
Land & Development - During Q3 FY17, WestRock's Land & Development segment's revenue increased 69.3% to $71.1 million from $42 million in Q3 FY16. For the reported quarter, the segment's income was $0.2 million compared to $9.5 million in Q3 FY16. During Q3 FY17, the segment's EBITDA was $0.4 million compared to $9.8 million in Q3 FY16. During Q3 FY17, the segment's adjusted EBITDA was $0.4 million versus $9.8 million in Q3 FY16.
As on June 30, 2017, WestRock's cash and cash equivalents decreased 34% to $225 million from $340.9 million in Q4 FY16.
For the reported quarter, the Company's total debt was $6.52 billion compared to $5.79 billion in Q4 FY16.
During Q3 FY17, WestRock's cash provided by operating activities increased 10.8% to $589.1 million from $531.6 million in Q3 FY16.
For the reported quarter, the Company's free cash flow increased 24.5% to $417.6 million from $335.5 million in Q3 FY16 while adjusted free cash flow increased 26.7% to $472.9 million from $373.2 million in Q3 FY16.
At the closing bell, on Monday, August 21, 2017, WestRock's stock slipped 3.48%, ending the trading session at $54.33. A total volume of 1.89 million shares have exchanged hands, which was higher than the 3-month average volume of 1.28 million shares. The Company's stock price surged 3.86% in the last three months, 0.93% in the past six months, and 19.64% in the previous twelve months. Moreover, the stock rallied 7.01% since the start of the year. The stock is trading at a PE ratio of 32.69 and has a dividend yield of 2.94%. The stock currently has a market cap of $13.75 billion.
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