Coffee Service

Westrock Coffee brews up Q1 2022 sales, earnings gains

Logo provided.

June 8, 2022

Westrock Coffee Holdings LLC, which recently went public, reported improved revenue and earnings for Q1 2022. The company acquired S&D Coffee & Tea from Cott Corp. in 2020.

Highlights include:

• Consolidated net sales increased 20% from $155.3 million in Q1 2021 to $186.4 million for the quarter ending March 31, 2022.
• Net loss improved from $6.12 million to $4.7 million for the comparative quarters.
• Net loss per common share remained 4 cents on both a basic and diluted basis.
• Sales in the company's sustainable sourcing and traceability segment, net of intersegment revenues, grew to $38.1 million from $28.1 million in the comparative quarters, driven by an approximately 20% increase in volumes and by higher green coffee prices.

Shares traded at $49.55 Tuesday against a 52-week range of $40.78-$58.49.

"We are pleased with the strong start to the year, particularly given the numerous factors currently impacting the U.S. consumer, increased inflation and the volume impacts of COVID restarts," Scott Ford, CEO, said in the press release.