WestRock Company (WRK, $37.94) tops Q4 earnings expectations
WestRock Company posted earnings for its fourth quarter that surpassed the Street expectations.
The corrugated packaging company's adjusted earnings came in at $1.43 per share, above the $1.41 per share expected by analysts’ (according to Thomson Reuters compilation).
Revenue climbed +6.1% from the year-ago quarter to $5.40 billion. The company’s sales from Corrugated Packaging business rose +8% year over year to $2,386 million, while adjusted segment EBITDA increased +6% year over year to $384 million. The Consumer Packaging segment’s sales were up +12.7% year-over-year to $1,306 million, with adjusted segment EBITDA rising +10.7% year over year to $219 million. The Paper segment generated revenue of $1,429 million down -2.3% year over, with adjusted segment EBITDA slipping -0.3% year over year to $306 million. The Distribution business sales increased +7% year over year to $374 million, and the segment’s adjusted EBITDA rose +11% year over year to $26 million.
WRK sees its Stochastic Oscillator recovers from oversold territory
On July 05, 2024, the Stochastic Oscillator for WRK moved out of oversold territory and this could be a bullish sign for the stock. Traders may want to buy the stock or buy call options. Tickeron's A.I.dvisor looked at 62 instances where the indicator left the oversold zone. In of the 62 cases the stock moved higher in the following days. This puts the odds of a move higher at over .
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Notable companies
The most notable companies in this group are Tupperware Brands Corp (NYSE:TUP).
Industry description
The containers/packing sector includes companies that manufacture containers (like plastic and aluminum food containers, glass bottles, metal cans, cardboard, storage and waste bags, giftwraps etc.) and provide packing services. Food-and-beverage and household products are major markets for this business. Several companies in this industry cater to international markets in addition to serving domestic customers. Consumer spending habits could potentially affect this industry’s performance. Some products, that use oil-based materials as inputs, are likely to see their costs of production get impacted (to some extent) by energy price movements. The ever-expanding e-commerce market has only supercharged the amount/frequency of goods shipped domestically and across borders, thereby creating ample potential opportunities for containers and packaging businesses. Ball Corporation, International Paper Company, Amcor Plc and Packaging Corporation of America are some of the largest U.S. companies in this industry.
Market Cap
The average market capitalization across the Containers/Packaging Industry is 4.77B. The market cap for tickers in the group ranges from 6.74K to 66.8B. STO holds the highest valuation in this group at 66.8B. The lowest valued company is EPTI at 6.74K.
High and low price notable news
The average weekly price growth across all stocks in the Containers/Packaging Industry was 1%. For the same Industry, the average monthly price growth was 2%, and the average quarterly price growth was 3%. RPKIF experienced the highest price growth at 12%, while SNGSF experienced the biggest fall at -19%.
Volume
The average weekly volume growth across all stocks in the Containers/Packaging Industry was 30%. For the same stocks of the Industry, the average monthly volume growth was 106% and the average quarterly volume growth was 134%
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
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