Westrock Coffee Reaffirms 2026 Ebitda and Flags 2027 Target

The Tip Desk · November 11, 2026 · 3 min read

Third-quarter net sales were $300.2 million after $26.1 million of tariff refunds reduced reported sales, while Adjusted EBITDA reached $26.4 million.

Westrock Coffee Company (WEST) reported third-quarter net sales of $300.2 million, down 15.4% from a year earlier, as $26.1 million of tariff refunds expected to be passed through to customers reduced reported sales and lower average green coffee prices were passed through.

The integrated beverage solutions platform said Consolidated Adjusted EBITDA was $26.4 million, up 14.0% from $23.2 million a year earlier. Chief Executive Scott T. Ford called the period a record quarter and the sixth consecutive quarter of year-over-year Consolidated Adjusted EBITDA growth.

Gross profit was $41.5 million, up 0.2%. Net loss narrowed to $10.0 million from $19.1 million a year earlier. Capital expenditures were $8.8 million, down from $18.1 million in the third quarter of 2025, which the company said continued a structural shift in capital intensity.

Beverage Solutions, the larger of the two reportable segments, posted net sales of $220.1 million, down 16.3%, with the same tariff-refund and green-coffee price-through drivers the company cited at the consolidated level. Segment Adjusted EBITDA was $23.3 million, up 13.9%. Sustainable Sourcing & Traceability net sales were $80.1 million, down 12.8%, and segment Adjusted EBITDA was $3.2 million compared with $5.8 million a year earlier.

In the second quarter, net sales had been $305.7 million, up 8.8%, and Consolidated Adjusted EBITDA $21.3 million, up 38.9%. Beverage Solutions sales in that quarter were $243.9 million, up 16.8%. The third-quarter sales decline therefore marked a reversal in the year-over-year direction of reported net sales after two quarters of growth.

On October 21, the company closed an upsized refinancing for Beverage Solutions through a new credit agreement led by Rabobank, providing a $300.0 million senior secured first lien term loan and a $300.0 million revolving credit facility, for total commitments of $600.0 million, up from $425.0 million under the prior agreement. The five-year facilities mature in October 2031. Proceeds were used to repay debt under the prior credit agreement and related transaction costs, including cash payments tied to the company’s 5% convertible senior notes due 2029, and will otherwise be used for general corporate purposes.

As part of the refinancing, Westrock Coffee repurchased $40.0 million of the 2029 notes for approximately $20.7 million in cash, issued about 2.4 million shares of common stock, and amended the remaining $32.0 million of those notes to extend maturity to January 2032. The amended notes, now the 2032 notes, include an optional redemption if the shares trade at or above $14.25 for more than 120 consecutive trading days.

The company is reaffirming 2026 guidance for Consolidated Adjusted EBITDA of $90.0 million to $100.0 million, first provided on March 10, 2026. It is providing preliminary 2027 guidance for Consolidated Adjusted EBITDA of approximately $130.0 million. Ford said the company is generating cash and that the recently closed Beverage Solutions credit agreement has put the balance sheet on solid footing for the long term.

Cash and cash equivalents were $41.1 million at September 30, 2026, compared with $49.9 million at December 31, 2025. Restricted cash was $13.7 million. Inventories were $187.0 million. Current maturities of long-term debt were $44.1 million and short-term debt $77.9 million. Long-term debt, net, was $319.5 million. Shareholders’ equity deficit was $34.9 million.

The company said it is not readily able to reconcile forecasted Consolidated Adjusted EBITDA to forecasted GAAP net income without unreasonable effort because certain items, including non-cash market-to-market adjustments, are uncertain or outside its control.