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WestRock fiscal Q3 profit falls YOY

WestRock Co. said its normalized net income for the fiscal third quarter ended June 30 amounted to 63 cents per share, compared with the S&P Capital IQ consensus estimate of 63 cents per share.

EPS declined year over year from 64 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $160.3 million, a decrease from $164.2 million in the year-earlier period.

The normalized profit margin dropped to 4.3% from 4.6% in the year-earlier period.

Total revenue rose year over year to $3.70 billion from $3.60 billion, and total operating expenses increased on an annual basis to $3.40 billion from $3.26 billion.

Reported net income grew 117.9% year over year to $329.3 million, or $1.29 per share, from $151.2 million, or 59 cents per share.