Westrock Coffee Q2 net loss $26.8M; closes $118.8M equity investment for growth

Westrock Coffee Co

2023-Q2 EPS reported -$0.42 revenue$430,136,000

Net loss widened to $26.8M from $5.8M in Q2 2022; revenue $224.7M (+0.6% YoY).
Adjusted EBITDA $11.3M, down $2.0M YoY; Beverage Solutions $11.7M, SS&T ($0.4M).
Closed $118.8M equity investment: $100M from HF Direct/Hunt/Arkansas Teacher and $18.8M from BBH at $10/share.
Reaffirmed FY2023 adjusted EBITDA growth outlook of flat to 10% over 2022.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Westrock Coffee Co reported the second quarter ended June 30, 2023 results: revenue $224.7 million, net income $26.8 million net loss. Guidance reaffirmed.

Period: the second quarter ended June 30, 2023
Revenue: $224.7 million
Net income: $26.8 million net loss
Guidance: reaffirmed
Result: reported results

Exact text from the filing

● Consolidated net sales were $224.7 million for the second quarter of 2023, an increase of $1.3 million, or 0.6%, compared to the second quarter of 2022. ● Consolidated gross profit for the second quarter of 2023 was $35.7 million and included $1.0 million of non-cash mark-to-market gains, compared to consolidated gross profit of $38.9 million for the second quarter of 2022, which included $1.4 million of non-cash mark-to-market losses. ● Net loss for the period was $26.8 million, compared to a net loss of $5.8 million for the second quarter of 2022.

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Source: SEC EDGAR

accession 0001558370-23-014256

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