Westrock Coffee reports Q1 EPS (27c), consensus (4c)

Reports Q1 revenue $192.5M, consensus $210.98M. Scott Ford, CEO and Co-founder stated, “On balance, our first quarter performance was simply outstanding. Our Adjusted EBITDA was up 32% over the prior year, our new Conway, Arkansas extract and ready-to-drink plant began producing commercial product exactly on schedule on April 16th, and our sales pipeline development efforts were rewarded with several new contract wins in the quarter. Given these results, our updated orderbook outlook, and our ongoing expense reduction plans, we are re-affirming our Adjusted EBITDA of $60-$80 million for 2024. We are also introducing our first, preliminary guidance for Adjusted EBITDA in 2025 of over $115 million as our customer onboarding process is scheduled to continue on pace through the rest of this year. I am extremely proud of, and thankful to, the entire Westrock team for fighting through challenge after challenge to now be in a position to deliver an industry leading array of products and services to our global, blue-chip customer base.”