WestRock hits nine-month high as Q4 profit beats expectations

WestRock Co

09/11/2023 15:32

(Updates)
    ** Shares of paper packaging maker WestRock  WRK.N  rise as
much as 2.2% at $38.26, hitting its highest since Jan. 31 
        ** Co posts Q4 adjusted EPS of 81 cents, beating
analysts' est. of 74 cents - LSEG data
  
        ** Says benefited from price hikes on its corrugated
boxes and cost cuts in Q4
  
    ** Still, WRK posts 8% dip in net sales owing to fall in its
Global Paper segment 
    ** In Sept, Irish rival Smurfit Kappa  SKG.I  agreed to take
over WRK in a $11-billion deal 
    ** Stock snaps three-day losing run
    ** Up to last close, stock up 7% YTD

 (Reporting by Aatreyee Dasgupta and Annett Mary Manoj)
 ((AnnettMary.Manoj@thomsonreuters.com))