The American corrugated packaging company WestRock Company announced results for its fiscal 2Q ended March 31, 2017. The $164 million increase in net sales was primarily attributable to the $132 million of increased Corrugated Packaging segment sales and $81 million increase in Land and Development segment sales, partially offset by a $34 million decrease in Consumer Packaging segment sales.
WestRock's 2Q 2017 net income increased by 81.2% year-over-year to $103.1 million.
“We executed well during the March quarter and delivered year-over-year productivity improvements of $103 million and strong earnings,” said Steve Voorhees, WestRock’s CEO. “While higher input costs may persist, favorable price and demand trends along with WestRock’s unique portfolio of products and capabilities position us well to drive value for our customers and stockholders. We are looking forward to adding Multi Packaging Solutions to our portfolio, which is currently expected to occur by the end of the June quarter.”