Westrock Coffee Q1: Revenue down 6.3% to $192.5M, Adj EBITDA up 32% to $11.1M

Westrock Coffee Co

2024-Q1 EPS reported -$0.27 revenue$192,500,000

Net loss widened to $23.7M from $4.3M; includes $9.8M start-up costs for Conway AR facility.
Beverage Solutions net sales $158.1M (down from $181.2M), Adj EBITDA $10.8M (up from $8.4M).
SS&T segment net sales $34.4M ($24.2M prior), Adj EBITDA $0.3M (breakeven prior).
Reaffirms 2024 Adj EBITDA guidance of $60M-$80M; introduces preliminary 2025 Adj EBITDA >$115M.
First commercial products shipped from Conway multi-serve bottle line; can/glass lines expected H2 2024.

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 first quarter ended March 31, 2024 results: revenue $192.5 million, net income $23.7 million. Guidance reaffirmed.

Period: the first quarter ended March 31, 2024
Revenue: $192.5 million
Net income: $23.7 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

● Consolidated net sales were $192.5 million for the first quarter of 2024, a decrease of $12.9 million, or 6.3%, compared to the first quarter of 2023. ● Consolidated gross profit for the first quarter of 2024 was $37.3 million and included $1.6 million of non-cash mark-to-market gains, compared to consolidated gross profit of $34.3 million for the first quarter of 2023, which included $1.2 million of non-cash mark-to-market gains. ● Net loss for the period was $23.7 million, compared to a net loss of $4.3 million for the first quarter of 2023.

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Source: SEC EDGAR

accession 0001558370-24-007609

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