First Quarter Summary • Reported sales increased 17%, including the positive effect of currency rates (+10%) • Core sales, excluding currency effects, rose 7% driven by growth in each business segment • Reported net income (8% of net sales) increased 14% to $59 million • Adjusted EBITDA (19% of net sales) increased 17% to $134 million • Reported earnings per share grew 14% to $0.92 and included costs associated with our business transformation ($0.07 per share) • Adjusted earnings per share of $0.99 compared to prior year reported earnings per share of $0.81 (+22%) and to prior year currency adjusted earnings per share of $0.90 (+10%) • Business transformation progressing as planned. Click Read More below for additional information.
Effective with shipments on or after February 8,2021, WestRock Commercial Print will increase the price of PrintKote® C1S and all PrintKote® specialty SBS products by 3 to 5%.
Tetra Pak, together with its supplier Braskem, has become the first company in the food and beverage industry to responsibly source plant-based polymers using the Bonsucro standards for sustainable sugar cane. This move is yet another reinforcement of the company’s commitment to drive ethical and responsible business practices across global supply chains, while lowering the carbon footprint of its packaging. “We’ve seen a growing trend of consumers wanting to do more for the planet, and they look to brands to help. Today 91% of consumers look for environmental logos when shopping, and Bonsucro Chain of Custody Certification can be used to communicate credible information to consumers, thereby helping our customers differentiate their products,” said Mario Abreu, VP Sustainability, Tetra Pak. “Our plant-based polymers are fully traceable to their sugarcane origin. We see plant-based materials as playing a key role in achieving a low-carbon circular economy. In the future all polymers we use will either be made from plant-based materials or from post-consumption recycled food grades.”
Pratt Paper NY has just produced its 6 millionth ton of America’s best 100 percent recycled paper. The Staten Island team hit the milestone late last week, and since start up in 1997 has now saved the equivalent of more than 102 MILLION trees – or a forest large enough to cover 100 square miles. That’s more than four times the size of Manhattan and enough paper to fill the Empire State Building over 4 times!