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Sep 30, 2025
Smurfit Kappa Q3 2025 Earnings Report
Smurfit Westrock delivered strong Q3 2025 results with solid margins across all geographies and significant adjusted EBITDA performance.
Key Takeaways
Smurfit Westrock posted $8.003 billion in revenue and $1.302 billion in adjusted EBITDA for Q3 2025. The company maintained robust margins globally and demonstrated strong cash generation with $579 million in adjusted free cash flow.
Delivered $1.302 billion in adjusted EBITDA with a margin of 16.3%
Generated $579 million in adjusted free cash flow from $1.1 billion in operating cash
All regions showed solid EBITDA margins: LATAM at 21.3%, North America at 17.2%, and EMEA & APAC at 14.8%
Net income reached $245 million, reversing a loss from the same period last year
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company projects continued strong financial performance and integration progress, with full-year adjusted EBITDA expected between $4.9 billion and $5.1 billion and FY26 capital spending planned at $2.4 to $2.5 billion.
Positive Outlook
- FY26 capital expenditure plan to optimize assets and support growth
- On track to deliver $400 million in synergy savings
- Improved commercial and operating focus from integration
- Maintaining investment-grade credit rating (BBB+)
- Headcount reduction and operational closures support cost takeout
Challenges Ahead
- Past restructuring and transaction costs remain elevated
- Ongoing integration efforts carry execution risks
- Exposure to macroeconomic pressures and cost inflation
- Corrugated volume decline of 8.7% in North America
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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