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KS Results

Posted on 29th October 2015 at 05:12

KapStone Paper and Packaging is out with third-quarter financial results today, reporting a profit in that three-month period, while also reporting that the strike by AWPPW Local 153 cost the company $14 million. The company also reports that union employees lost $2 million in lost wages and benefits; the company says “no one wins in a strike, and this strike was no exception.” Overall, the numbers are pretty decent, as KapStone reports net sales of $808 million, up 35 percent when compared to last year. Net income was down 20 percent for the quarter, but the company was still $34 million in the black. Chairman and CEO Roger W. Stone says that they had free cash flow of $73 million in the quarter, up 24 percent over the same period last year. Stone says mills in other parts of the country are setting all-time production records, but the continuing strength of the dollar overseas is negatively impacting export sales. Even with those challenges, Stone says that the company is “well positioned for the future.”