Smurfit Westrock Q2 FY2026: sales up 1.1%, margins squeezed
Smurfit Westrock's second quarter of fiscal 2026 showed modest top-line growth and weak profit: sales rose 1.1% to $8.03 billion, but net income was just $89 million and Adjusted EBITDA fell to $1.14 billion from $1.21 billion. The investment case now rests on management's pledge to recover freight and other input costs in the second half, not on this quarter's earnings. View: Neutral.
1 · Expected vs. Actual
Free preview belowGAAP earnings per share were $0.17 against a $0.05 loss a year ago, and adjusted basic EPS was $0.35 versus $0.44. The consensus estimate was $0.4363, so adjusted EPS missed by a wide margin, and that is the number most investors will focus on. The gap between GAAP and adjusted EPS is mostly $0.23 per share of impairment and restructuring costs.
Net sales rose 1.1% to $8.03 billion from $7.94 billion a year earlier, and 4.1% from the prior quarter's $7.71 billion. North America, the largest segment at $4.66 billion of net sales, was essentially flat, while Europe/MEA/APAC grew to $2.82 billion and Latin America to $559 million. Management describes demand for paper as strong with an excellent supply/demand backdrop.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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