Westrock Coffee Company, LLC Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 15, 2022 at 03:27 am IST
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Westrock Coffee Company, LLC reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was USD 230.31 million compared to USD 181.28 million a year ago. Net loss was USD 13 million compared to USD 3.99 million a year ago. Basic loss per share from continuing operations was USD 0.41 compared to USD 0.29 a year ago. Diluted loss per share from continuing operations was USD 0.41 compared to USD 0.29 a year ago.
For the nine months, sales was USD 640.15 million compared to USD 507.75 million a year ago. Net loss was USD 23.59 million compared to USD 16.52 million a year ago. Basic loss per share from continuing operations was USD 1.12 compared to USD 1 a year ago. Diluted loss per share from continuing operations was USD 1.12 compared to USD 1 a year ago.
Westrock Coffee Company is an integrated coffee, tea, flavors, extracts, and ingredients solutions provider in the United States. It provides coffee sourcing, supply chain management, product development, roasting, packaging and distribution services to the retail, food service and restaurant, convenience store and travel center, non-commercial account, CPG, and hospitality industries around the world. It has two segments: Beverage Solutions and Sustainable Sourcing & Traceability (SS&T). Beverage Solutions segment provides products in a variety of packaging, including branded and private label coffee in bags, fractional packs, and single-serve cups, as well as extract solutions to be used in products, such as cold brew and ready-to-drink offerings. SS&T segment utilizes its technology and digitally traceable supply chain to directly impact and improve the lives of its farming partners, tangible economic empowerment and an emphasis on environmental accountability and farmer literacy.