Filing Flows › Smurfit Westrock (SW) › How it makes money
How Smurfit Westrock (SW) makes money
Smurfit Westrock (SW) made $8.2B of revenue in the third quarter 2026 (Q3 2026), +2% from a year earlier. North America brought in $4.8B (58%); Europe, MEA and APAC brought in $2.8B (35%); LATAM brought in $587M (7%). Of every dollar of revenue, 18¢ was left as gross profit, 6¢ was left as operating profit, 3¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| North America | $4.8B | 58.2% | +2% | +2% |
| Europe, MEA and APAC | $2.8B | 34.6% | +0.3% | +0.2% |
| LATAM | $587M | 7.2% | +5% | +8% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $8.2B | 100.0% |
| Cost of revenue | $6.7B | 82.4% |
| Gross profit | $1.4B | 17.6% |
| Operating expenses | $953M | 11.7% |
| Operating profit | $487M | 6.0% |
| Income tax | $95.0M | 1.2% |
| Net earnings | $219M | 2.7% |
| Operating cash flow | $874M | 10.7% |
| Free cash flow | $360M | 4.4% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $8.2B | +2% |
| Q2 2026 | $8.0B | +1% |
| Q1 2026 | $7.7B | +0.7% |
| Q4 2025 | $7.6B | +0.5% |
| Q3 2025 | $8.0B | +4% |
| Q2 2025 | $7.9B | +167% |
| Q1 2025 | $7.7B | +161% |
From Smurfit Westrock's 10-Q filed Nov 4, 2026 (on EDGAR).
Questions
How does Smurfit Westrock make money?
Smurfit Westrock (SW) made $8.2B of revenue in the third quarter 2026 (Q3 2026), +2% from a year earlier. North America brought in $4.8B (58%); Europe, MEA and APAC brought in $2.8B (35%); LATAM brought in $587M (7%). Of every dollar of revenue, 18¢ was left as gross profit, 6¢ was left as operating profit, 3¢ was left as net earnings.
What is Smurfit Westrock's biggest business?
North America: $4.8B in the third quarter 2026, 58% of revenue, +2% from a year earlier.
What is Smurfit Westrock's profit margin?
Net earnings were $219M, 2.7% of revenue, in the third quarter 2026; the operating margin was 6.0%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.