Filing Flows › Smurfit Westrock (SW) › Q3 2026
Smurfit Westrock (SW) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 4, 2026
Smurfit Westrock (SW) reported revenue of $8.2B for the third quarter 2026 (Q3 2026), +2% from a year earlier and +2% from the quarter before. Operating margin was 6.0%, net earnings $219M (2.7% of revenue).
Smurfit Westrock, Q3 2026: revenue $8.2B (+2% year over year), operating margin 6.0%, net earnings $219M, operating cash flow $874M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $8.2B | +2% | +2% |
| Gross profit | $1.4B | +3% | -8% |
| Operating profit | $487M | +58% | -7% |
| Net earnings | $219M | +149% | -11% |
| Operating cash flow | $874M | +14% | -23% |
| Free cash flow | $360M | +20% | -31% |
What changed
Revenue was $8.2B in Q3 2026, up 2% year over year and up 2% from the previous quarter. North America was the largest line at 58% of revenue. North America added $0.11B year over year (up 2%), 70% of the total change.
Gross margin was 17.6%, down 2.0 points from Q3 2025. Operating profit was $0.49B, a 6.0% margin (down 0.6 points year over year). Operating profit fell $0.04B even though revenue rose $0.16B versus Q3 2025, so costs grew faster than sales. Operating expenses fell 9% while revenue rose 2%. Net earnings were $0.22B, down 10% year over year. The effective tax rate was 30.3%.
Operating cash flow was $0.87B (down 23% year over year), 399% of net earnings. Non-cash charges added back $0.68B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.04B. Capital expenditures of $0.51B left free cash flow of $0.36B.
Questions
What was Smurfit Westrock's revenue in the third quarter 2026?
Smurfit Westrock (SW) reported revenue of $8.2B for the third quarter 2026 (Q3 2026), +2% from a year earlier and +2% from the quarter before.
Was Smurfit Westrock profitable in the third quarter 2026?
Operating profit was $487M (6.0% of revenue) and net earnings $219M.
Source: Smurfit Westrock 10-Q on SEC EDGAR.