EarningsQ2 2026 Earnings Report
MX:SW1N Q2 2026 EPS Results
Actual EPS$6.33
Consensus EPS$7.32
Beat/MissMissed by -$0.99
One Year Ago EPS-$0.90
MX:SW1N Q2 2026 Revenue Results
Actual Revenue$145.15B
Expected Revenue$143.37B
Beat/MissBeat by +$1.78B
YoY Revenue Growth+1.15%
Earnings Announcement Details
QuarterQ2 2026
Date07/29/2026
TimeBefore Open
Conference CallWednesday, July 29, 2026
MX:SW1N Upcoming Earnings
Smurfit Westrock's next earnings date is estimated for November 4, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:SW1N Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call balanced clear operational and commercial progress (strong Q2 adjusted EBITDA and margin, sold-out mill systems, quality improvements, reduced number of loss-making converting sites, healthy pipelines and disciplined capital allocation) against significant, largely external, near-term cost pressures (notably freight and energy headwinds, timing lag to realize pricing, and regional volume softness in North America). Management expressed confidence in passing through costs and driving recovery into late 2026 and 2027 while maintaining a returns-focused investment stance.Company Guidance
Strong adjusted EBITDA and margin
Reported adjusted EBITDA of $1.14 billion for Q2 and an adjusted EBITDA margin of 14.2% demonstrating solid profitability in the quarter.
Full-year adjusted EBITDA guidance
Revised full-year adjusted EBITDA expected in the range of $4.9 billion to $5.1 billion, providing a clear near-term earnings target for 2026.
Operational run-rate and sold-out mill systems
Mill systems across regions (North America, EMEA & APAC, Latin America) are largely fully booked / sold out for many paper grades, supporting tight supply dynamics and future pricing power.
Regional outperformance and volume growth in EMEA & LatAm
EMEA corrugated volumes grew +1.9% (absolute) / +1.5% (same-day). Latin America delivered another excellent quarter with healthy demand and attractive margins driven by strong market positions and recent investments.
North America improvement and pipeline
North America showing operational and commercial progress: corrugated order books described as 'good', over 500 new customers won to commercialize in the back half, and management expects volumes to be positive vs. last year in late Q3 or Q4.
Quality and cost-takeout progress
Year-to-date quality metric improved by over 25%; significant cost takeout and asset optimization executed (including closures) and owner-operator model adoption showing progress.
Capital allocation, cash generation and dividend
CapEx guidance of $2.4–$2.5 billion for 2026 (in line with an average plan of ~$2.5B/year), emphasis on returns-focused internal investment; announced quarterly dividend of $0.4523 per ordinary share and reiterated strong balance sheet with investment-grade ratings (Moody's Baa2 Positive, S&P BBB Stable, Fitch BBB+ Stable).
Conversion footprint rationalization and loss-maker reduction
Management reduced recurring loss-making converting sites significantly from early integration levels (management cited a decrease from ~80 to ~20 loss-makers) and expects to solve ~10 of these, improving overall converting profitability.
MX:SW1N Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed