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Why WestRock Stock Got Rocked for a 14% Loss Today

TheMotleyFool

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Why WestRock Stock Got Rocked for a 14% Loss Today: https://g.foolcdn.com/editorial/images/718917/delivery-man-dropping-a-stack-of-boxes.jpg

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

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