call Thanks James. morning. our this in Okay. who join of dialed to you to have Thanks, those
for people a they connect the WestRock world. products have by doing to essential the will around cover. to are start I to team thanking all lot We help amazing
changing broad and pandemic. and the responded by by help network supported have to team capabilities conditions scale heroically converting the mill the of WestRock The market meet caused our customers our
quarter, last of We end million. provided the was in generated solid quarter. This financial adjusted the results guidance on $XXX we high segment of that with the EBITDA
our differentiated and of We position financial are strength from substantial strategy a executing liquidity.
essential to has the markets backdrop unprecedented the WestRock continued pandemic global to supporting global and COVID-XX performance caused an this the and as economic of of to of the with company clouded the The products thanks products impacted our volatility and part team a against who to and get chain deliver outlook, solutions their need consumers need supply they that the portfolio them. global customers reach has
disrupted some strong, demand very across markets seen others our e-commerce significant have have negative pandemic patterns The impacts. including notably been business, markets industrial has while
WestRock drivers long-term well-positioned for of right that to our with unchanged remain continue our believe create that value to strategy the We remains all growth of succeed stakeholders. and
of that, taking which has are economic economic appropriate an steps range and for prepare prudent said we significantly near-term, to through and the conditions. in Having plan action global implementing softened we the a market therefore are outlook
We financial of are our the strength. well-being our needs teammates, meeting health, our of supporting and on further focused of the building foundation and customers, on safety
of the plan. are Following pandemic key our action components
keep checking and measures deep safety temperature We have practices healthy. coverings, including other face safe standardized and our enhanced across teammates company, social help distancing, cleaning, our to
this through awards and this well we during recognition and quarter provide time incredibly done one-time our operations teammates. team’s manufacturing Our to will
reduced with reducing machines customer demand, supply plants demand. serve continue necessary taking will including to shifts match and where that at paper with downtime at We our our markets
and present take system advantage e-commerce of in responding the to serve markets, where our opportunities At themselves, demand. of using they growing the existing capabilities including same including scale to will time, surges we and
reductions of cost and and expenses. as up operating retainer as our near-term of XX% decreases reductions team a led Directors, implementing to well senior discretionary Board are of by executive for salary We
plan funded additional use the of available while We company’s contributions to incentives This of at annual company our XXX(k) and with all incentives our our reduction, provide cash management will XXXX. for in debt stock our company further teammates team and make to aligning the the levels pay investors.
capital invest our to million make XXXX. the level, will million have capital At and by the this projects fiscal improve system reducing necessary $XXX and growing markets. are year We maintain supply investments our underway, our million productivity complete $XXX in capital this $XXX we strategic we and investments to we will
finally, WestRock dividends year while enhancing capital $XXX stockholders liquidity additional competitive for and benefit debt an quarterly This stockholders, sustaining million per $X.XX allocating environment access reduction. $X.XX a for an uncertain per take prudent an that by in will dividend to our leverage, are annual And reducing sustainable long-term to meaningful, to resetting to to share. debt markets. This is of will share and provide per we our rate step our
in fiscal in economic of combination for as As range the situation -- enable business our and to through cash This adapt us in grow re-evaluate expect as we and we will provide look end WestRock market of success. well-positioned of the our ensure the sustain actions our with COVID-XX future additional we conditions to markets debt situation will the changes available dividend market an and to return XXXX. for evolves, dividend will COVID-XX quickly will conditions long-term normal. to that a This remains billion and under $X reduction
and running and the WestRock’s pandemic to succeed dedication hard date hinges keep of to help our WestRock the to the stepped ability response to which operations and up to our has going team, our customers. work forward on
support where teammates, their we families the operate. to communities continue will our and We
the navigate team this While right emerge the stronger outlook even the environment to company. an have we near-term is unclear, strategy in and place and to right
quickly facility are just at we months frequently safety than address needs In meeting addition we is they enhanced working more implemented procedures identify Whether to we operating our as and were to the changing are adapt two to our to we company, This the meet we standardized rapidly ever quite have an than in our operational now the are efforts or changing issues home, ago. customers. supporting differently of across working arise.
we customers have more Georgia face XXX,XXX for and also up And including Innovation with than for communities partnering for the provide stepped support our Medical Center our to manufacturing shields.
service and We donating food distribution boxes are communities. and charitable corrugated food and also of banks to for containers many our food
performance for share second earnings segment were Let’s billion quarter. We per sales generated million. of turn adjusted fiscal our Adjusted to of $X.XX. $XXX with $X.X net the EBITDA
by we replacements. with additional growth past Over machine the year, adding strategy XXX have our advanced differentiated strong
XX% XX XX billion make Enterprise to customers in past the enterprise year added customers have over a compared We now ago, a sales, months. billion up increase. $X $X.X
substantial have more flexibility we liquidity than Overall, billion $XXX long-term $X.X committed of including more financial with of cash. million than
March U.S. XXX% debt qualified is pension of limited until XXXX plan have maturities and funded. our We
the channels Other During in of luxury segments strength a goods quarter, and healthcare industrial experienced the including as and we beverage softened protein market products the in COVID-XX. segments. of e-commerce agriculture, processed market and food, impact result
pulp paper market export variance kraft The published Our and decreases and the previously containerboard, declines containerboard year-over-year export the in second mix pricing. domestic reflects reflect volumes domestic and price and quarter flow-through price box and shipments. results higher
and results adjusted adjusted XX% XX%. $XXX EBITDA XX%. North segment adjusted Corrugated Packaging Brazil’s margins with adjusted EBITDA and American solid delivered were EBITDA quarter segment were margins the in of EBITDA million margins of
cleaning During and operational deflation products, and higher performance volumes, retail processed the sales declines. like by strong offset of offset quarter, were diapers than and user with pricing products were products, strong foods Strong segments half productivity the e-commerce, March in in and products more paper reductions by industrial of the and food packaging. and service distribution paper, significant our pizza end second in
into more on the than and our of reduced are employees. processed on XXX effects plant This trend customers closures. Coronavirus. downtime Even based customers the reporting like XXX temporary our effects of temporary Coronavirus the plant segments the due has foods shifts of their closures That’s with suffering continued reporting to of protein and April
with increased began home. sheltering absolute the end as during on at of shipments quarter consumers Box increasing an at X.X% the the quarter basis shipments
shipments and year. factors margin and lower by The cumulative to to impact sheets converters. market our low of the box Our as over X.X% reduced box sales well last the as five were reduced negatively pizza last year, these of sales of third-party demand segments, distribution industrial, compared box impacted closure plants from by
put those perspective. let’s in But
the Over successful we have years been growing very past business. three our box
organic over In box growth this fact, X.X%. growth twice industry the time of nearly our XX%, shipment approximately is
customer work to to well continues changing rapidly meet Our commercial needs. to our approach customers
the to strength The graphics in Las location to with us the to for of business growing enabled addition has open supply our a preprint system. our expanded footprint demand Vegas new KapStone and meet of our
will press Jacksonville provide cost. capacity our facility preprint expanding a are add and to run continuous reduce incremental We
came in Our the hundred containerboard increase white our last XX,XXX to sales of top combine tons quarter to liners. compared domestic increase higher from year, value export and XXX,XXX tons
projects KapStone of strategic integration with and synergies run ended million Our the the rate quarter XXXX We annual KapStone. continue. from an of in
Charleston two has rates Our across machine. calendar the permanent end the progress of the operations, manufacturing at provided production our the redistributed North of savings optimized remaining reconfiguring anticipate team the and paper has grade our the specialty being mill efficiencies. following substantial has which mill’s in made number shutdown by year. The mix cost We been plant
our supported team of Packaging well-invested in by In environment, paper plant make box coverage range is the outstanding the in and Corrugated containerboard kraft well industry. system mill and with sum, and capabilities WestRock’s extremely widest the executing to grades geographic system our this
results EBITDA In higher in food million healthcare mix our segment, from $XXX were segment turn our with food, Let’s of service, flat volatile benefits performed replacement the to on and packaging plastic and businesses well a year-over-year, where the adjusted quarter, highly price consumer initiatives. roughly beverage environment.
Our material our science machinery that value design, leverages deliver proposition continues to and customers. for differentiated value
and and high-end solid system. This of reduced contributed our respectively. print SBF in downtime in quarter April and commercial upside CNK taking remain weeks, in tons tons spirits. backlogs XX,XXX March beauty, three at cosmetics to across was Lower demand another offset economic XX,XXX CRB and our the by demand in five
of across view of a We markets. the key four end Consumer Packaging the through categories. participates lens business wide range
First, to growth These beverage of service. customer and differentiated about of differentiated with our businesses our full offerings sales and integrated XX% carton range food, deliver We our innovation, the through customers businesses service folding and products, our machinery substrate food comprise and converters. independent value paperboard sales. win with segment
our Specialty for about our account Packaging sales. XX% Second, businesses of segment
The Specialty of is business. the very value-added weighted supported is converting offering by been Packaging of side labels integrated cartons, towards in and inserts. the healthcare business our has Our and strong
performance declining time. and offerings been some mixed, goods, over While our consumer some of have for other payment media cards specialty the growing,
has category SBS since and for This commercial secular recent Specialty fiscal about declined for more of decline to been paperboard context, accounts in is category the tobacco, challenged to commercial segment due provide This third our XX% which, XXXX. tobacco, than volume print print The years packaging. liquid in XX% have sales. and
balance our $XX we compared pulp the our last to system. Fourth, Recent quarter million million declines use pulp approximately to $XX year-to-date year. as and by have earnings in price lowered
seeing good science, We with material are and grow commercial using offerings innovation machinery customers. opportunities products to our our
We and have Covington Mahrt, invested improve and converting have structure at cost our our we assets in in product our Demopolis quality. invested to and mills system
At in the Covington, other folding are applications. SBS lowest producing carton now world density the we and for
value-added market our well-positioned been improving lower long-term, and consumer improving are offset the of have packaging by products many have of and while over been and business the improvements continue our segments. performance these declining to So
We continue the business. to performance to long-term this committed of be improving
to economic environment. is WestRock weather current the well-positioned
serve the segments. market ability have a We wide end of array to
We the to fiber. have recycled and virgin flexibility ability use including across our supply chain both
changing provides market. Our and global this scale rapidly versatility redundancy in
Slide demand in of provides changing. is conditions XX markets. an market our End quickly current overview
noted were strong packaging e-commerce and customers channels in grow. beverage March in strong As we retail and this earlier, continue food work home. will as demand in from is believe now Processed sheltered to markets, very in and place liquid
from Protein impact protein companies from a the the processing positive to weeks few markets COVID-XX. have strongly felt last as have shifted negative over
food as been continue from distribution customers closures the market demand declines commercial and service other markets and quarter. and impacted has print by Industrial their end pattern of such negatively previous
where which trends From it’s to and stand are which we will transient today, persist. difficult predict
us economy. of positions changing Fortunately, and our meet our products broad across a customers to diverse packaging cross-section adapt portfolio of paper the and needs well
unclear, remains and taken conditions to are develop. to actions navigate market we the they While as take preparing outlook have
quarterly and now Ward will it I results. about position over to talk hand financial our
