Westrock Coffee’s financial results for the second quarter of 2024 show a net sales decrease to $208.4 million, down 7.3 percent from the previous year. The company also reported a net loss of $17.8 million due to significant expenses, including $13.6 million in start-up costs for its new Arkansas facility.
Despite these challenges, Westrock Coffee saw a rise in EBITDA, with Adjusted EBITDA up 20.8 percent from the first quarter. The company also achieved its first commercial sale of multi-serve bottles and cans from its Conway facility.
Gross profit for the quarter was $41.4 million, including $1.5 million in non-cash mark-to-market gains. This is an improvement from last year’s $35.7 million gross profit.
The beverage solutions segment contributed $163.3 million in net sales and $13.2 million in Adjusted EBITDA, while the SS&T segment added $45.1 million in net sales and $0.4 million in Adjusted EBITDA.
For the remainder of 2024, Westrock Coffee has updated its Adjusted EBITDA guidance to $60 – $65 million, while maintaining a forecast of $115 million for 2025.