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AF&PA elects Pratt Industries CEO Brian McPheely as board chair, releases 2023 slate of board officers, including Sonoco, WestRock, GP executives; AF&PA welcomes five new directors from Clearwater Paper, Hood Container, The Price Cos., Ahlstrom, Greif
Published: February 03, 2023 by American Forest & Paper Association (AF&PA)
Wells Fargo reiterates WestRock at overweight, lowers target by US$4 to US$42 and reduces estimates for fiscal 2023/2024, noting sub-optimal fiscal Q1 results and below-consensus Q2 guidance, but believes containerboard fundamentals are nearing a bottom
Published: February 02, 2023 by Wells Fargo & Co.
WestRock CEO expects global paper business headwinds in Q2 as some customers saw higher inventory, 'much softer demand' in Q1, notably in export market for grades like containerboard; inventory, restocking, customer demand issues could even out in H2
Published: February 02, 2023 by Waste Dive
Morningstar trims WestRock's fair value estimate by US$1 to US$58 due to slight reduction in near-term revenue, profitability assumptions; fiscal Q1 results largely in line with expectations, but demand for corrugated packaging continued to face pressures
Published: February 01, 2023 by Morningstar
Zacks: WestRock's fiscal Q1 adjusted EPS miss Zacks Consensus Estimate, down 15% year-over-year due to cost inflation, lower volumes, economic downtime, Mahrt mill work stoppage; total revenues down 0.6% to US$4.92B, also lagging estimate
Published: February 01, 2023 by Zack's Commentary

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