Please be advised that we will increase our prices effective with shipments on or after August 31, 2018. Prices will increase approximately 5% on Finch Opaque, Finch 94 and New Leaf Ingenuity grades and approximately 7% for all other Finch Printing, Converting, Publishing, Digital/Inkjet, Technical Specialty and Finch Office Papers. Increases apply to all rolls and sheet sizes. Pricing for Finch Fine product family will not change. Standard Upcharges will be revised as follows: $2.00/cwt differential on 50-lb text over 60-lb text on all Finch Opaque, Finch 94 and Finch Offset. $1.00/cwt upcharge for less than 50" OD rolls on all Finch 94 and Finch Offset products. $1.50/cwt upcharge for rolls measuring 11" to 16.99" wide. Making sheet sizes in skids or cartons will be subject to additional charges.
WestRock Company (NYSE:WRK), a leading provider of differentiated paper and packaging solutions, today announced results for its fiscal first quarter ended December 31, 2019.
Notable items in the first quarter of fiscal 2020 include:
• Net sales of $4.42 billion increased by 2.2% compared to the prior year quarter
• Earned $0.53 per diluted share and $0.58 of adjusted earnings per diluted share compared to $0.54 per diluted share and $0.83 of adjusted earnings per diluted share in the prior year quarter
• Achieved more than $110 million of cumulative KapStone run-rate synergies and performance improvements through December 31, 2019
• Generated net cash provided by operating activities of $431 million compared to $303 million in the prior year quarter; generated Adjusted Operating Cash Flow of $453 million compared to $348 million in the prior year quarter
“We continue to execute our strategy to be the leading provider of differentiated paper and packaging solutions for our customers,” said Steve Voorhees, chief executive officer. “We achieved our guidance for the first quarter and remain focused on organic growth, productivity, free cash flow generation and debt reduction.”
Net sales increased $96 million compared to the prior year quarter, primarily due to an additional month of KapStone Paper and Packaging Corporation (“KapStone”) ownership in fiscal 2020. The increase in sales related to KapStone was partially offset by lower pulp and corrugated prices and lower consumer paperboard volumes.
Segment income increased $7 million compared to the prior year quarter. Corrugated Packaging segment income increased $37 million and Consumer Packaging segment income decreased $31 million.