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Sep 30, 2023
Westrock Coffee Q3 2023 Earnings Report
Reported a mix of positives and negatives, with a decline in volume demand for traditional roast and ground coffee impacting Adjusted EBITDA.
Key Takeaways
Westrock Coffee reported a net sales decrease of 4.6% to $219.6 million, with a net income of $16.6 million compared to a net loss in the previous year. The company's Adjusted EBITDA decreased by $6.3 million to $11.6 million. The company expects its 2023 outlook for Adjusted EBITDA to fall below its previously issued guidance range of flat to 10% over 2022.
Consolidated net sales decreased by 4.6% to $219.6 million.
Consolidated gross profit was $35.1 million, including out-of-period charges and non-cash mark-to-market losses.
Net income was $16.6 million, which included acquisition, restructuring and integration expenses, start-up costs, and non-cash gains from the change in fair value of warrant liabilities.
Adjusted EBITDA decreased to $11.6 million.
Revenue by Segment
Forward Guidance
The Company expects its 2023 outlook for Adjusted EBITDA to fall below its previously issued guidance range of flat to 10% over 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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