Faced with dual issues of the ransomware incident and significant weather disruption, the team focused, executed, and delivered for our customers, generating revenue of $4.4 billion, adjusted segment EBITDA of $641 million, and adjusted earnings per share of $0.54 per share.
The ransomware and weather incidents lowered our adjusted earnings per share by $0.23.
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We've already taken the first step today with the announcement of a 20% increase to our quarterly dividend.
We remain committed to our investment-grade credit profile and believe that our leverage target of 2 in a quarter to 2.5 times is appropriate.
We generated revenue of $4.4 billion, adjusted segment EBITDA of $641 million, and adjusted earnings per share of $0.54 per share.
The two events negatively impacted revenue by $189 million, adjusted segment EBITDA by $80 million, and adjusted segment EBITDA margins by approximately 110 basis points.
Adjusted earnings per share was $0.23 lower as a result of these events.
In addition to the impact of the ransomware incident that we show on the adjusted segment EBITDA bridge, we also incurred $20 million in ransomware recovery costs.
The $20 million of recovery costs were excluded from our adjusted segment EBITDA and adjusted earnings per share.
We estimate that the total insurance claim will be approximately $75 million, and we expect to recover the claim from our cyber and business interruption insurance coverage in future periods.
The implementation of these price increases and improved business mix drove $88 million in year-over-year earnings improvement.
Notably, we had record second-quarter North American box shipments which increased 5.5% year over year on a per-day basis.
We did not exercise the option to purchase an additional 18.7% equity interest in Grupo Gondi.
As a result, we recorded a charge of $22.5 million that we excluded from adjusted EPS.
Despite this, our net funded debt declined $74 million from Q1 and our net leverage decreased to 2.8 times.
Due to the decisive actions we have taken over the past year to strengthen our balance sheet, we have reduced our adjusted net debt by $1.6 billion.
Our overall packaging volumes increased by 3% in Q2, including e-commerce box volume growth of 18.4% on a per-day basis.
Our paper sales represent 27% of our total revenue in the company and we are focused on reducing our participation in the export containerboard and specialty SBS markets.
Turning to segment results, our corrugated packaging segment reported revenue of $2.9 billion and adjusted segment EBITDA of $438 million.
North American adjusted segment EBITDA would have been $54 million higher and margins approximately 140 basis points higher without the events in the quarter.
As I said earlier, corrugated box shipments were up 5.5% per day year over year.
Excluding the impact of the ransomware and weather incidents, per-day box shipments would have increased approximately 8%.
We lost approximately 121,000 tons of containerboard production and revenue due to the disruptions in the quarter.
Inventory levels remain low as we head into our peak mill-outage quarter in Q3 with 112,000 tons of planned maintenance outage downtime.
The segment reported revenue of $1.6 billion and adjusted segment EBITDA of $212 million.
EBITDA would have been $26 million higher and margin's approximately 100 basis points higher without the events in the quarter.
Food and beverage packaging revenues were up 4.7% year over year, driven by improved mix to quick-service restaurants and beverage packaging.
We lost approximately 46,000 tons of production and corresponding revenue due to the disruptions in the quarter.
In addition, we had approximately 20,000 tons of consumer paperboard shipments that were deferred into the third quarter due to these disruptions.
In addition, we are making progress with CNK production at the Evadale mill and are on track to deliver 25,000 tons of CNK production in FY '21 and 50,000 tons of production in FY '22.
We expect adjusted segment EBITDA of $775 million to $805 million and adjusted earnings per share of $0.88 to $0.97 per share.
In addition, we will take approximately 112,000 tons of scheduled maintenance downtime across our North American containerboard mills.
As a result, we expect full-year adjusted segment EBITDA to be approximately $3.05 billion.
Given our earnings outlook and continued strong cash flows, we fully expect to be within our leverage target of 2.25 to 2.5 times by the end of the fiscal year.

Summary:
Faced with dual issues of the ransomware incident and significant weather disruption, the team focused, executed, and delivered for our customers, generating revenue of $4.4 billion, adjusted segment EBITDA of $641 million, and adjusted earnings per share of $0.54 per share.
We've already taken the first step today with the announcement of a 20% increase to our quarterly dividend.
We generated revenue of $4.4 billion, adjusted segment EBITDA of $641 million, and adjusted earnings per share of $0.54 per share.