SW 10-Q Quarterly Reports

Smurfit Westrock Quarterly Report for Q3 Ended Sep 30, 2026

Smurfit Westrock Quarterly Report for Q2 Ended Jun 30, 2026

Smurfit Westrock plc reported net sales of $8,031 million for the three months ended June 30, 2026, up from $7,940 million a year earlier, primarily due to a net positive foreign currency impact partially offset by lower selling price mix. Net income attributable to common shareholders was $89 million for the quarter, compared with a net loss of $28 million in the prior-year quarter. For the six months, net sales rose to $15,743 million from $15,596 million, while net income attributable to common shareholders fell to $154 million from $356 million, reflecting higher cost of goods sold including freight, depreciation, downtime and energy costs, and accelerated depreciation for machine closures. Adjusted EBITDA was $1,140 million for the quarter versus $1,213 million a year earlier, and $2,216 million for the six months versus $2,465 million. Net cash provided by operating activities was $969 million for the six months, down from $1,064 million, while capital expenditures were $1,089 million. Total debt stood at $14,164 million at June 30, 2026, and the company reported $5,239 million of available liquidity. The Board approved a quarterly dividend of $0.4523 per share payable September 10, 2026. The filing also discloses pending litigation, including a U.S. antitrust class action in which the company states an adverse outcome could have a material impact, and an ICSID annulment proceeding related to an award in favor of a subsidiary against Venezuela. Management concluded that disclosure controls and procedures were effective.

Smurfit Westrock Quarterly Report for Q1 Ended Mar 31, 2026

Smurfit Westrock plc reported net sales of $7,712 million for the three months ended March 31, 2026, up $56 million from $7,656 million a year earlier, driven primarily by a $316 million net positive foreign currency impact that was largely offset by a $256 million impact of lower volumes. Net income attributable to common shareholders fell to $65 million from $384 million, mainly due to higher cost of goods sold, including $70 million of accelerated depreciation for machine closures, lower volumes, economic downtime, adverse weather and higher freight costs. Diluted earnings per share were $0.12 versus $0.73. Adjusted EBITDA, a non-GAAP measure, was $1,076 million compared with $1,252 million in the prior-year period. Cash generation weakened modestly. Net cash provided by operating activities was $204 million, down $31 million, while capital expenditures were $624 million. Total debt rose to $14,255 million at March 31, 2026 from $13,773 million at December 31, 2025, and cash and cash equivalents were $674 million. The company had $5,337 million of available liquidity, including undrawn committed facilities of $4,663 million. The company paid $237 million of cash dividends, and on April 30, 2026 its Board approved a quarterly dividend of $0.4523 per share payable June 10, 2026. Segment results were mixed. North America Adjusted EBITDA fell $188 million to $597 million on higher costs and lower volumes, while Europe, MEA and APAC rose $32 million to $421 million and LATAM declined $6 million to $109 million. The filing also discloses ongoing litigation, including a U.S. antitrust class action filed July 29, 2025 in which the company's subsidiaries remain defendants, and an ICSID arbitration award against Venezuela, which is under annulment review.

Smurfit Westrock Quarterly Report for Q3 Ended Sep 30, 2025

Smurfit Westrock plc's 10-Q for the quarter ended September 30, 2025 shows a business that is now fully combined with WestRock: net sales were $8,003 million for the three months and $23,599 million for the nine months, versus $7,671 million and $13,570 million a year earlier. The nine-month comparison is inflated by the WestRock acquisition, which the filing says contributed $9,845 million of net sales. Net income attributable to common shareholders was $246 million for the quarter (versus a $150 million loss) and $602 million for the nine months (versus $173 million). Adjusted EBITDA was $1,302 million for the quarter and $3,767 million for the nine months, and net cash provided by operating activities was $2,197 million for the nine months. The filing highlights a large restructuring program. The company permanently closed its St. Paul, Minnesota coated recycled board mill and stopped production at its Forney, Texas containerboard mill, reducing capacity by over 500,000 tons, and is closing two German converting facilities. Impairment and restructuring costs were $360 million for the nine months, and the company expects $39 million of further charges through 2026 related to these closures. Leverage rose, with total debt of $14,171 million (excluding issuance costs) against cash of $851 million and $5,590 million of total available liquidity. The filing also flags risks. Management concluded that disclosure controls were not effective because of a previously reported material weakness in internal control over financial reporting, which remediation is still addressing. A U.S. antitrust class action filed July 29, 2025 names subsidiaries of the company; Smurfit Westrock plc itself was dismissed on October 17, 2025. The company also declared a quarterly dividend of $0.4308 per share payable December 18, 2025.

Smurfit Westrock Quarterly Report for Q2 Ended Jun 30, 2025

Smurfit Westrock plc's Form 10-Q for the quarter ended June 30, 2025 reports net sales of $7,940 million for the three months ended June 30, 2025, up from $2,969 million a year earlier, with the increase primarily driven by the acquisition of WestRock ($4,839 million contribution). The company posted a net loss attributable to common shareholders of $28 million for the quarter, compared with net income of $132 million in the prior-year quarter, as impairment and restructuring costs of $280 million and higher interest expense of $182 million weighed on results. For the six months, net income attributable to common shareholders was $356 million, and Adjusted EBITDA was $2,465 million versus $955 million a year earlier, per the filing's non-GAAP reconciliation. Cash flow and balance sheet items show net cash provided by operating activities of $1,064 million for the six months, capital expenditures of $999 million, and dividends paid of $450 million. Total debt, excluding debt issuance costs, was $14,425 million at June 30, 2025, and total available liquidity was $5,522 million. The company's disclosure controls were concluded to be not effective due to a previously reported material weakness in internal control over financial reporting tied to the Combination integration. The filing also discloses the April 30, 2025 announced closure of a coated recycled board mill in St. Paul, Minnesota and a containerboard mill in Forney, Texas, with $280 million of impairment and restructuring costs in the quarter. A subsequent-event disclosure describes a July 29, 2025 class action antitrust lawsuit in the U.S. District Court for the Northern District of Illinois, which the company says it is unable to currently assess for outcome or loss range.

Smurfit Westrock Quarterly Report for Q1 Ended Mar 31, 2025

Smurfit Westrock plc reported net sales of $7,656 million for the three months ended March 31, 2025, up from $2,930 million a year earlier. The filing attributes the increase primarily to the acquisition of WestRock, which contributed $4,736 million of net sales. Excluding the acquisition, net sales decreased by $10 million, reflecting a $175 million negative foreign currency impact and a $43 million negative volume impact, largely offset by a $209 million positive selling price mix. Net income attributable to common shareholders was $384 million, compared with $191 million, and Adjusted EBITDA rose to $1,252 million from $475 million. The effective tax rate fell to 2.1% from 28.5%, driven by the resolution of $72 million of unrecognized tax benefits. Balance sheet and cash flow data show total debt, excluding debt issuance costs, of $14,281 million and cash of $797 million at March 31, 2025. Operating cash flow was $235 million, capital expenditures were $477 million, and dividends paid were $225 million. The company reports $5,630 million of available liquidity. Management concluded that disclosure controls were not effective because of a previously reported material weakness in internal control over financial reporting, which remains under remediation. Subsequent to quarter-end, the company announced the permanent closure of its St. Paul, Minnesota CRB mill and the discontinuation of production at its Forney, Texas containerboard mill, plus consultations on two German converting facilities. The filing expects approximately $287 million of pre-tax charges for these closures, including $188 million of non-cash impairments, mostly over the remainder of 2025 and into 2026. The Board also approved a quarterly dividend of $0.4308 per share.

Smurfit Westrock Quarterly Report for Q3 Ended Sep 30, 2024

Smurfit Westrock plc's Form 10-Q for the quarter ended September 30, 2024 reflects the first full quarter after the Combination with WestRock closed on July 5, 2024. Smurfit Kappa was the accounting acquirer, so historical results are Smurfit Kappa's, and WestRock contributed net sales of $4,684 million and a net loss of $132 million from the closing date through September 30, 2024. Net sales rose to $7,671 million in the three months ended September 30, 2024 from $2,915 million a year earlier, while the company reported a net loss attributable to common stockholders of $150 million, compared with net income of $229 million in the prior-year quarter. The filing attributes the swing mainly to $267 million of transaction and integration-related expenses and a $227 million inventory fair value step-up amortization charge. For the nine months, net income attributable to common stockholders was $173 million versus $777 million a year earlier, and operating cash flow fell to $702 million from $948 million. Total debt rose to $13,964 million (excluding debt issuance costs) from $3,769 million at December 31, 2023, and the company reported $951 million of cash and about $5.7 billion of total liquidity, including undrawn committed facilities of about $4.7 billion. Adjusted EBITDA for the three months was $1,265 million versus $525 million, and for the nine months $2,220 million versus $1,682 million, per the company's non-GAAP reconciliation. Investors should note that management concluded disclosure controls and procedures were not effective because of a material weakness in internal control over financial reporting, tied principally to legacy Smurfit Kappa processes. The company also reported a preliminary goodwill of $4,359 million from the Merger and an Award of over $469 million against Venezuela, which Smurfit Holdings BV has begun enforcing. Dividends declared were $0.30 per share for the quarter and $0.95 per share for the nine months.

Smurfit Westrock Quarterly Report for Q2 Ended Jun 30, 2024

Smurfit Westrock plc's Form 10-Q for the quarter ended June 30, 2024 presents the financial statements of a shell-stage holding company that had no operations before the Combination closed on July 5, 2024. As of June 30, 2024, its only asset was cash of $26,762 (in actual dollars), and total stockholders' equity was $14,462. The company reported a net loss of $12,300 for both the three and six months ended June 30, 2024, attributed to professional fees related to its re-registration as an Irish public limited company. It generated no revenue in either period. The filing's most significant content concerns the Combination. On July 5, 2024, Smurfit Westrock acquired Smurfit Kappa through a scheme of arrangement, and Merger Sub merged with WestRock, which continued as the surviving entity. WestRock common stockholders received one Smurfit Westrock share plus $5.00 in cash per share, an aggregate cash consideration of $1,291 million. Smurfit Kappa shareholders own approximately 50.4% of the combined company and WestRock shareholders own approximately 49.6%. Smurfit Kappa is the accounting acquirer, and the filing states that the initial purchase price accounting is incomplete, with preliminary information expected in the Form 10-Q for the period ending September 30, 2024. The filing also discloses two pending lawsuits by purported WestRock stockholders challenging the proxy statement disclosures, and states that the Company cannot predict their outcomes. Management concluded that disclosure controls were effective. Because the financial statements predate the Combination, the filing states that future results will not be comparable to historical results.

Smurfit Westrock Quarterly Report for Q1 Ended Mar 31, 2024

Smurfit WestRock Limited filed this Quarterly Report on Form 10-Q on June 7, 2024 for the quarter ended March 31, 2024. The company has had no historical operations since its incorporation in Ireland on July 6, 2017, and it did not generate revenue or net income in the three months ended March 31, 2024 or 2023. Its only balance sheet item is cash and cash equivalents of $108 thousand at March 31, 2024, down from $111 thousand at December 31, 2023. Total comprehensive loss for the quarter was $3 thousand, from foreign currency translation on euro-denominated cash. The filing centers on the pending Combination with WestRock Company, under a Transaction Agreement dated September 12, 2023 with Smurfit Kappa Group plc and Sun Merger Sub, LLC. Under the terms, WestRock common stockholders will receive one new Smurfit WestRock share and $5.00 in cash for each WestRock share, and Smurfit Kappa ordinary shareholders will receive one new Smurfit WestRock share for each of their shares. The Registration Statement on Form S-4 was declared effective on April 26, 2024, and the Transaction is expected to close in early July 2024, subject to regulatory approvals, shareholder approvals and other closing conditions. Prior to closing, Smurfit WestRock will have no operations and no liquidity or capital requirements. The filing also discloses two lawsuits pending as of June 6, 2024, filed by purported WestRock stockholders in New York State court. The suits challenge the sufficiency of disclosures in the proxy statement/prospectus and allege breach of fiduciary duty against WestRock and its directors. The company states it cannot predict the outcomes. Management, led by President and Group Chief Executive Officer Anthony Smurfit and Group Chief Financial Officer Ken Bowles, concluded that disclosure controls and procedures were effective as of the end of the period.