Why WestRock Stock Got Rocked for a 14% Loss Today
Things are not looking great for retail today -- at least not for retailers who put their products in boxes and ship them to customers (which is basically everybody). Shares of cardboard box maker WestRock Company (NYSE: WRK), you see, tumbled 14% through 10:30 a.m. ET Wednesday after the company reported an earnings miss and withdrew its guidance for the rest of the year.
Instead of the $0.60-per-share adjusted profit and $5.1 billion in sales that Wall Street expected, this morning, WestRock admitted that its fiscal Q1 2023 earnings were only $0.55 per share and its sales $4.9 billion.
It gets worse.
Source Fool.com