Westrock Coffee Q3 net sales $219.6M (-4.6% YoY); Adjusted EBITDA $11.6M misses guidance

Westrock Coffee Co

2023-Q3 EPS reported -$0.19 revenue$649,748,000

Net sales $219.6M, down 4.6% YoY; net income $16.6M vs net loss $13.0M YoY.
Adjusted EBITDA $11.6M, down 35% from $17.9M YoY; CEO cites rapid fall-off in hot coffee volumes.
Beverage Solutions segment Adjusted EBITDA fell to $9.9M from $15.9M YoY; SS&T segment also down.
Guidance reduced: 2023 Adjusted EBITDA now expected below prior range of flat to 10% over 2022.
Conway, AR extract/RTD facility remains on schedule for Q2 2024 production start.

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 0.95

Westrock Coffee Co updated its 2023 guidance (lowered).

Period: 2023
Guidance: lowered
Result: guidance update

Exact text from the filing

The Company expects its 2023 outlook for Adjusted EBITDA to fall below its previously issued guidance range of flat to 10% over 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Westrock Coffee Co reported financial results for third quarter ended September 30, 2023.

Period: third quarter ended September 30, 2023
Result: reported results

Exact text from the filing

Consolidated net sales were $219.6 million for the third quarter of 2023, a decrease of $10.7 million, or 4.6%, compared to the third quarter of 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Westrock Coffee Co reported financial results for third quarter ended September 30, 2023.

Period: third quarter ended September 30, 2023
Result: reported results

Exact text from the filing

Net income for the period was $16.6 million, compared to a net loss of $13.0 million for the third quarter of 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Westrock Coffee Co reported financial results for third quarter ended September 30, 2023.

Period: third quarter ended September 30, 2023
Result: reported results

Exact text from the filing

Adjusted EBITDA was $11.6 million for the third quarter of 2023, a decrease of $6.3 million, compared to the third quarter of 2022.

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Westrock Coffee Co filing history →

Source: SEC EDGAR

accession 0001558370-23-018574

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