Westrock Coffee Company Reports Q2 2024 Financial Results

Westrock Coffee Company Reports Q2 2024 Financial Results

Westrock Coffee Company has reported its financial results for the second quarter ended June 30, 2024.

Key Financial Metrics

Interpretation: Westrock Coffee Company's revenue grew by 8.3% quarter-over-quarter but declined by 7.2% year-over-year, slightly missing the consensus estimate. The earnings per share significantly underperformed both the prior quarter and the year-ago quarter, as well as the consensus estimate.

Segment Revenue Performance

Interpretation: The Beverage Solutions segment experienced a significant decline of 14% year-over-year, primarily driven by decreases in coffee and tea product sales volume. On the contrary, the SS&T segment saw robust growth, with a 29.1% increase year-over-year, mainly due to higher sales volume, despite a decrease in average sales price per pound.

Dividends or Share Repo Program

There is no information provided about announced dividends or share repurchase programs.

Stock Price Movement

Following the earnings release, Westrock Coffee Company's stock experienced a -2.3% change.

In conclusion, while Westrock Coffee Company has shown growth in its SS&T segment, its overall financial performance has faced challenges, especially in the Beverage Solutions segment. The earnings per share significantly missed analyst expectations, and the company did not provide forward guidance or comments from its officers. This financial performance led to a decline in the company's stock price post-earnings release.