WestRock Provides Update of Financial Impact Following Hurricane Dorian
WestRock Company (the “Company”), a leading provider of differentiated paper and packaging solutions, provided an estimate of the impact of Hurricane Dorian on its fiscal fourth quarter financial results.
The Company idled three of its containerboard mills in the southeastern United States that were located in areas of mandatory evacuation in the projected path of Hurricane Dorian. All three mills resumed production as the evacuation orders were lifted in their respective areas.
The pre-tax impact from the hurricane on the Company’s financial results for the quarter ending September 30, 2019 is expected to be approximately $9 million. This impact is related to incremental costs to idle and restore the mills to operation, and the supply chain impacts of adapting our operations to meet our system requirements.
The Company will provide additional details during its fiscal fourth quarter earnings conference call.
WestRock (NYSE: WRK) partners with our customers to provide differentiated paper and packaging solutions that help them win in the marketplace. WestRock’s team members support customers around the world from locations spanning North America, South America, Europe, Asia and Australia. Learn more at www.westrock.com.
John Stakel – Senior Vice President – Treasurer – email@example.com – (678) 291-7901
Source: WestRock Company