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Smurfit Westrock (SW) investor relations material
Smurfit Westrock Q3 2025 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net sales reached $8.003 billion for Q3 2025, up year-over-year, with Adjusted EBITDA of $1.302 billion and a 16.3% margin, supported by strong regional performance and synergy realization.
Net income rebounded to $245–246 million for Q3 2025, reversing a prior year loss, and operating profit rose to $526 million.
Major restructuring included closure of multiple facilities, reducing capacity by over 500,000 tons and headcount by over 4,500.
Strong cash flow performance with $1.1 billion in operating cash and $579 million in Adjusted Free Cash Flow.
Ongoing integration and operational improvements post-combination, with a focus on asset optimization and leadership development.
Financial highlights
Q3 2025 net sales: $8.003 billion; Adjusted EBITDA: $1.302 billion; Adjusted Free Cash Flow: $579 million.
North America: Net sales $4.7 billion, Adjusted EBITDA $810 million, margin 17.2%.
EMEA & APAC: Net sales $2.8 billion, Adjusted EBITDA $419 million, margin 14.8%.
Latin America: Net sales $500–545 million, Adjusted EBITDA $116 million, margin 21.3%.
Net income margin improved to 3.1% from -2.0% year-over-year; basic EPS was $0.47.
Outlook and guidance
Full-year 2025 Adjusted EBITDA guidance is $4.9–$5.1 billion, reflecting additional economic downtime in Q4.
2026 capital expenditures projected at $2.4–$2.5 billion, consistent with current year.
Quarterly dividend of $0.4308 per share approved, payable December 18, 2025.
Long-term targets to be set out in February 2026.
Management believes liquidity and capital resources are sufficient for the foreseeable future.
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