01—Abstract
Summary
Summary of the 8-K filed October 29, 2025. Cited figures are marked; the original filing is the authoritative source.
Smurfit Westrock plc (NYSE: SW) furnished an 8-K on October 29, 2025 reporting third-quarter 2025 results for the period ended September 30, 2025.
Net sales were $8,003 milliona, compared with $7,671 million a year earlier, and net income was $245 million (3.1% net income margin), versus a net loss of $150 million in the prior-year quarter. Adjusted EBITDA was $1,302 million with a 16.3% margin, compared with $1,265 million and 16.5% a year earlier. Net cash provided by operating activities was $1,133 million and Adjusted Free Cash Flow was $579 million.
The prior-year quarter did not include legacy WestRock results for the first five days of July 2024, due to the Combination closing on July 5, 2024. By segment, North America delivered Adjusted EBITDA of $810 millionb at a 17.2% margin, EMEA and APAC delivered $419 million at 14.8%, and Latin America delivered $116 million at 21.3%. Management said the company delivered in line with its Adjusted EBITDA guidance for the quarter.
Because of a challenging demand backdrop, the company expects additional economic downtime in the fourth quarter and now expects full-year 2025 Adjusted EBITDA in a $4.9 to $5.1 billionc range. The 2026 capital expenditure outlook is $2.4 to $2.5 billion.
The Board approved a quarterly dividend of $0.4308d per ordinary share, payable December 18, 2025 to shareholders of record on November 14, 2025. The filing also includes a Q3 2025 earnings presentation (Exhibit 99.2), which lists long-term targets to be announced in February 2026.
02—Key points
Key Highlights
- Net sales of $8,003 million for Q3 2025, up from $7,671 million in Q3 2024.
- Net income of $245 million (3.1% margin) versus a net loss of $150 million in Q3 2024; basic EPS of $0.47 versus $(0.30).
- Adjusted EBITDA of $1,302 million with a 16.3% margin; North America contributed $810 million at a 17.2% margin.
- Net cash provided by operating activities of $1,133 million and Adjusted Free Cash Flow of $579 million for the quarter.
- Full-year 2025 Adjusted EBITDA guidance narrowed to $4.9 to $5.1 billion, with additional fourth-quarter economic downtime expected.
- 2026 capital expenditure expected in a $2.4 to $2.5 billion range.
- Quarterly dividend of $0.4308 per ordinary share, payable December 18, 2025.
03—Questions
Frequently Asked Questions
How did Smurfit Westrock perform in the third quarter of 2025?
Net sales rose to $8,003 million from $7,671 million, and the company reported net income of $245 million compared with a net loss of $150 million a year earlier. Adjusted EBITDA was $1,302 million, with a 16.3% margin, versus $1,265 million and 16.5% in Q3 2024.
What is the updated full-year 2025 outlook?
The company now expects full-year 2025 Adjusted EBITDA in a $4.9 to $5.1 billion range, citing a challenging demand backdrop and additional economic downtime planned for the fourth quarter to optimize the system.
Which segment drove results?
North America generated Adjusted EBITDA of $810 million at a 17.2% margin. EMEA and APAC produced $419 million at 14.8%, and Latin America produced $116 million at 21.3%.
What cash flow did the company generate and what are the capital spending plans?
Net cash provided by operating activities was $1,133 million and Adjusted Free Cash Flow was $579 million in the quarter. Capital expenditures for 2026 are expected to be in a $2.4 to $2.5 billion range.
What dividend was declared?
The Board approved a quarterly dividend of $0.4308 per ordinary share, payable December 18, 2025 to shareholders of record at the close of business on November 14, 2025.
04—Continue