January 29, 2018 / 11:46 AM / 25 days ago

BRIEF-Westrock Reports Qtrly Adj EPS Of $0.87

Jan 29 (Reuters) - Westrock Co:

* WESTROCK REPORTS FISCAL 2018 FIRST QUARTER RESULTS

* Q1 REVENUE $3.89 BILLION VERSUS $3.45 BILLION

* Q1 EARNINGS PER SHARE $4.38

* Q1 EARNINGS PER SHARE VIEW $0.75 -- THOMSON REUTERS I/B/E/S

* Q1 REVENUE VIEW $3.93 BILLION -- THOMSON REUTERS I/B/E/S

* ‍DURING Q1 OF FISCAL 2018, WESTROCK SUBMITTED NOTIFICATION TO WITHDRAW FROM PACE INDUSTRY UNION-MANAGEMENT PENSION FUND​

* ‍DURING Q1 OF FISCAL 2018 WESTROCK RECORDED AN ESTIMATED WITHDRAWAL LIABILITY OF $180 MILLION DUE TO NOTIFICATION TO WITHDRAW FROM PIUMPF​

* QTRLY ADJUSTED EARNINGS PER DILUTED SHARE $0.87

* WESTROCK-$180 MILLION ESTIMATE ASSUMES WITHDRAWAL LIABILITY TO BE PAID OVER 20 YRS, ONE-TIME PAYMENT OF EXPECTED PORTION OF ACCUMULATED FUNDING DEFICIENCY​‍​

* Q1 RESULTS INCLUDED AN ESTIMATED INCOME TAX BENEFIT OF $1.1 BILLION AS A RESULT OF ENACTMENT OF TAX CUTS AND JOBS ACT​

* Q1 RESULTS INCLUDED AN ESTIMATED INCOME TAX BENEFIT OF $4.19 PER DILUTED SHARE, AS A RESULT OF TAX CUTS AND JOBS ACT Source text for Eikon: Further company coverage:

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