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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.
Westrock Coffee
Westrock Coffee
Westrock Coffee Revenue by Segment
Revenue by Segment
Beverage Solutions Revenue
CapyFin.com 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.