Smurfit Westrock Reports Q3 2026 Results and Updates Full-Year EBITDA Outlook

Executive Summary

On October 28, 2026, Smurfit Westrock plc filed a Form 8-K under Items 2.02 (Results of Operations and Financial Condition) and 7.01 (Regulation FD Disclosure), furnishing its financial results for the third quarter ended September 30, 2026.

Key Financial Metrics (Q3 2026 vs. Q3 2025)

• Net Sales: $8,161 million, up 2.0% from $8,003 million in Q3 2025.
• Gross Profit: $1,440 million (17.6% margin), down from $1,569 million (19.6% margin).
• Operating Profit: $487 million, compared to $526 million in Q3 2025.
• Net Income: $219 million (2.7% margin), down 10.6% from $245 million (3.1% margin).
• Adjusted EBITDA: $1,205 million (14.8% margin), down 7.5% from $1,302 million (16.3% margin).
• Diluted EPS: $0.42, down from $0.47 per share.
• Adjusted Basic EPS: $0.45, down from $0.58 per share.
• Operating Cash Flow: $874 million, compared to $1,133 million in the prior-year period.

Segment Performance (Q3 2026 Net Sales)

• North America: $4,750 million (up from $4,639 million in Q3 2025); Adjusted EBITDA was $760 million (15.6% margin).
• Europe, MEA and APAC: $2,824 million (up from $2,819 million in Q3 2025); Adjusted EBITDA was $379 million (13.4% margin).
• Latin America (LATAM): $587 million (up from $545 million in Q3 2025); Adjusted EBITDA was $126 million (21.4% margin).

Full-Year 2026 Guidance & Strategic Commentary

• FY 2026 Adjusted EBITDA Guidance: Updated to approximately $4.7 billion.
• Cost Pressures: Management noted unprecedented cost headwinds, specifically highlighting approximately $700 million of incremental freight and energy expenses absorbed in 2026.
• Price Realization: Price increases across most paper grades are being implemented and are expected to offset input cost pressures with the full benefit anticipated in 2027.
• M&A Activity: Highlighted the agreement to acquire containerboard assets of CMPC in Chile to strengthen its Pan-Latin American footprint.

Capital Returns

• The Board approved a quarterly dividend of $0.4523 per ordinary share, payable on December 10, 2026, to shareholders of record as of November 13, 2026.