How did Smurfit Westrock perform in the third quarter of 2026?

Net sales were $8,161 million, up from $8,003 million a year earlier. Net income was $219 million versus $245 million, and Adjusted EBITDA was $1,205 million versus $1,302 million, with Adjusted EBITDA margin of 14.8% compared with 16.3%.

What is the company's updated full-year 2026 outlook?

Management estimates full-year 2026 Adjusted EBITDA of approximately $4.7 billion. This reflects continued and unprecedented cost inflation, including about $700 million of additional freight and energy costs expected in 2026 that management said were significantly more than anticipated.

What is the company doing to offset rising costs?

The company says it has implemented price increases across most paper grades, including containerboard price increases in EMEA & APAC, which it expects to more than offset input costs as they are passed through. Management expects the full benefits to be realized into 2027.

What acquisition was announced during the quarter?

During the third quarter, the company announced an agreement to acquire the containerboard assets of CMPC in Chile, which management said further strengthens its presence in Latin America.

SW 8-K: Earnings & Results & Regulation FD

01—Abstract

Summary

Summary of the 8-K filed October 28, 2026. Cited figures are marked; the original filing is the authoritative source.

Smurfit Westrock plc (NYSE: SW) reported third quarter 2026 results for the period ended September 30, 2026, with net sales of $8,161 million^a, compared with $8,003 million in the prior-year quarter.

Net income was $219 million^b (net income margin of 2.7%, versus 3.1% a year earlier), and Adjusted EBITDA was $1,205 million (Adjusted EBITDA margin of 14.8%, versus 16.3%). Basic EPS was $0.42 and Adjusted Basic EPS was $0.45, compared with $0.47 and $0.58 in the third quarter of 2025. Net cash provided by operating activities was $874 million, down from $1,133 million a year earlier.

Management described the quarter as resilient against what it called unprecedented cost inflation and somewhat weaker than anticipated converting volumes. By segment, North America reported Adjusted EBITDA of $760 million^c (15.6% margin), Europe, MEA and APAC reported $379 million (13.4% margin), and LATAM reported $126 million (21.4% margin). Management now estimates full-year 2026 Adjusted EBITDA of approximately $4.7 billion and expects to absorb about $700 million of additional freight and energy costs in 2026.

The company says it has implemented price increases intended to more than offset these costs, with full benefits expected to be realized into 2027. The company also announced an agreement to acquire the containerboard assets of CMPC in Chile. The Board approved a quarterly dividend of $0.4523^d per ordinary share, payable December 10, 2026 to shareholders of record on November 13, 2026.

The company also furnished a third quarter 2026 earnings presentation for its October 28, 2026 conference call. The filing notes that management did not reconcile the full-year Adjusted EBITDA outlook to GAAP net income because it could not do so without unreasonable efforts.

02—Key points

Key Highlights

Net sales rose to $8,161 million from $8,003 million, while net income fell to $219 million from $245 million.
Adjusted EBITDA declined to $1,205 million from $1,302 million, with margin of 14.8% versus 16.3% a year earlier.
Full-year 2026 Adjusted EBITDA is now estimated at approximately $4.7 billion, reflecting unprecedented cost inflation.
Approximately $700 million of additional freight and energy costs expected to be absorbed in full-year 2026, with price increases intended to more than offset them.
North America Adjusted EBITDA was $760 million (15.6% margin); EMEA & APAC was $379 million (13.4%); LATAM was $126 million (21.4%).
Operating cash flow was $874 million, down from $1,133 million in the prior-year quarter.
Quarterly dividend of $0.4523 per ordinary share declared, payable December 10, 2026 to holders of record on November 13, 2026.

03—Questions

Frequently Asked Questions

How did Smurfit Westrock perform in the third quarter of 2026?
Net sales were $8,161 million, up from $8,003 million a year earlier. Net income was $219 million versus $245 million, and Adjusted EBITDA was $1,205 million versus $1,302 million, with Adjusted EBITDA margin of 14.8% compared with 16.3%.
What is the company's updated full-year 2026 outlook?
Management estimates full-year 2026 Adjusted EBITDA of approximately $4.7 billion. This reflects continued and unprecedented cost inflation, including about $700 million of additional freight and energy costs expected in 2026 that management said were significantly more than anticipated.
What is the company doing to offset rising costs?
The company says it has implemented price increases across most paper grades, including containerboard price increases in EMEA & APAC, which it expects to more than offset input costs as they are passed through. Management expects the full benefits to be realized into 2027.
What dividend did the Board approve?
The Board approved a quarterly dividend of $0.4523 per ordinary share, payable December 10, 2026 to shareholders of record at the close of business on November 13, 2026.
What acquisition was announced during the quarter?
During the third quarter, the company announced an agreement to acquire the containerboard assets of CMPC in Chile, which management said further strengthens its presence in Latin America.

04—Continue

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