Filing Flows › Smurfit Westrock (SW) › Q3 2026 › vs Q2 2026
Smurfit Westrock (SW) Q3 2026 vs Q2 2026 (quarter over quarter)
Smurfit Westrock's revenue rose $130M (+2%) from $8.0B in Q2 2026 to $8.2B in Q3 2026. The biggest changes: North America +$94.0M (+2%); LATAM +$28.0M (+5%); Europe, MEA and APAC +$8.0M (+0.3%). Gross margin 17.6% against 17.4% (+0.2 pts).
Smurfit Westrock, Q3 2026: revenue $8.2B (+2% year over year), operating margin 6.0%, net earnings $219M, operating cash flow $874M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 17.6% | 17.4% | +0.2 pts |
| Operating margin | 6.0% | 3.8% | +2.1 pts |
| Net margin | 2.7% | 1.1% | +1.6 pts |
| Free cash flow margin | 4.4% | 3.7% | +0.7 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| North America | $4.8B | $4.7B | $94.0M | +2% |
| Europe, MEA and APAC | $2.8B | $2.8B | $8.0M | +0.3% |
| LATAM | $587M | $559M | $28.0M | +5% |
| Revenue | $8.2B | $8.0B | $130M | +2% |
| Gross profit | $1.4B | $1.4B | $41.0M | +3% |
| Cost of revenue | $6.7B | $6.6B | $89.0M | +1% |
| Operating profit | $487M | $309M | $178M | +58% |
| Operating expenses | $953M | $1.1B | −$137M | -13% |
| Pre-tax earnings | $314M | $128M | $186M | +145% |
| Other expense, net | $173M | $181M | −$8.0M | -4% |
| SG&A | $927M | $970M | −$43.0M | -4% |
| Other operating costs | $26.0M | $120M | −$94.0M | -78% |
| Net earnings | $219M | $88.0M | $131M | +149% |
| Income tax | $95.0M | $40.0M | $55.0M | +138% |
| Depreciation & amortization | $678M | $678M | $0 | 0% |
| Share-based compensation | $21.0M | $27.0M | −$6.0M | -22% |
| Working capital & other | $44.0M | $28.0M | $16.0M | +57% |
| Operating cash flow | $874M | $765M | $109M | +14% |
| Free cash flow (OCF − capex) | $360M | $300M | $60.0M | +20% |
| Capital expenditures | $514M | $465M | $49.0M | +11% |
Questions
How much did Smurfit Westrock's revenue grow quarter over quarter in Q3 2026?
Smurfit Westrock's revenue rose $130M (+2%) from $8.0B in Q2 2026 to $8.2B in Q3 2026.
What drove Smurfit Westrock's revenue change in Q3 2026?
North America +$94.0M (+2%); LATAM +$28.0M (+5%); Europe, MEA and APAC +$8.0M (+0.3%).