LITTLE ROCK, Ark., USA – Westrock Coffee Company provided an update on anticipated 2023 full year results. The Company expects its 2023 Adjusted EBITDA to fall near the low end of its previously disclosed guidance range of $45 million to $50 million.
The foregoing financial information is preliminary unaudited financial information which is subject to revision in connection with the finalization of financial statements for the Company’s 2023 fiscal year.
The Company will report its full year 2023 results on Tuesday, March 12, 2024 after market close. The announcement will be followed by a live earnings conference call at 4:30 p.m. EST.
To participate in the live earnings call and question and answer session, please register at https://register.vevent.com/register/BIa80ab8d7d9824bdcb8f729b24cb36937 and dial-in information will be provided directly to you.
The live audio webcast will be accessible in the “Events and Presentations” section of the Company’s Investor Relations website at https://investors.westrockcoffee.com. An archived replay of the webcast will be available shortly after the live event has concluded.
Westrock Coffee Company – 2024 Outlook
Westrock Coffee Company expects consolidated Adjusted EBITDA to be between $60 million and $80 million in fiscal 2024. The guidance range is necessarily broad to account for the range of results the Company may experience as it commences operations at its Extract and RTD facility in Conway, Arkansas and the commercialization of customers at that facility.
This guidance is an estimate of what the Company believes is realizable as of the date of this release, and actual results may vary from this guidance and the variations may be material. Management will provide additional details regarding the 2024 outlook on its earnings results call.
The Company is not readily able to provide a reconciliation of forecasted Adjusted EBITDA to forecasted GAAP net income without unreasonable effort because certain items that impact such figure are uncertain or outside the Company’s control and cannot be reasonably predicted. Such items include the impacts of non-cash gains or losses resulting from mark-to-market adjustments of derivatives and the change in fair value of warrant liabilities, among others.
