SW

Smurfit Westrock's Q3 revenue increased 2%, but higher production and freight costs pushed adjusted EBITDA down 7.5% and reduced margins by 150 basis points. Management lowered its FY2026 EBITDA guidance to $4.7 billion, prompting us to cut our earnings forecast by 6%. North American capacity closures, planned containerboard price increases and WestRock integration savings could support a stronger earnings recovery in 2027.

Smurfit Westrock Plc (SW) Q3 2026 Earnings Call Transcript

Smurfit Westrock misses Q3 on earnings as higher freight, energy and raw material costs, plus weak volumes, pressure margins and lower its 2026 EBITDA outlook.

Smurfit Westrock NYSE: SW reported third-quarter adjusted EBITDA of $1.205 billion and an adjusted EBITDA margin of 14.8%, as higher energy and freight expenses weighed on results. Chief Executive Officer Tony Smurfit said the company faced “unprecedented and greater-than-anticipated cost inflation,” with energy and freight costs expected to create an approximately $700 million year-over-year headwind in 2026.

SW expects y/y revenue and earnings growth in Q3, but North American volume weakness and rising costs could offset packaging demand gains.

DUBLIN--(BUSINESS WIRE)--Smurfit Westrock plc (NYSE:SW) plans to release its financial results for the third quarter ended September 30, 2026 on Wednesday, October 28, 2026 at 6:30 am ET (10:30 am GMT). Smurfit Westrock's earnings release and related materials will be available at smurfitwestrock.com At 7:30 am ET (11:30 am GMT) on the same day, Smurfit Westrock's senior management team will host a webcast for analysts and institutional investors. The webcast will be available at https://invest.

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SW's Chile deal and asset rationalization could strengthen its regional footprint, cut costs and support long-term growth.

Smurfit Westrock NYSE: SW reported second-quarter adjusted EBITDA of $1.14 billion and an adjusted EBITDA margin of 14.2%, as higher freight costs weighed on results and pricing actions had only begun to flow through to customers.

Smurfit Westrock revenue increased 1.1% to $8.03 billion, while adjusted EBITDA remained under pressure from higher freight, energy, and other input costs. Management lowered its full-year adjusted EBITDA outlook to $4.9–5.1 billion, broadly in line with our existing $5 billion forecast. We therefore see the market's negative reaction as largely focused on near-term cost pressures rather than a material deterioration in the underlying investment case.