> ## Content Index
> Fetch the complete content index at: https://www.bullished.co/llms.txt
> Use this file to discover other available public pages before exploring further.

# Smurfit Westrock Sees 2026 Adjusted EBITDA Of About $4.7 Billion, Citing $700 Million In Extra Freight And Energy Costs
- URL: https://www.bullished.co/smurfit-westrock-sees-2026-adjusted-ebitda-of-about-4-7-billion-citing-700-million-in-93380d0d/
- Published: 2026-10-28T10:52:08.000Z
- Updated: 2026-10-28T14:51:07.000Z
- Description: The paper-packaging maker says price increases should more than offset costs, with the full benefit coming into 2027.
- Author: Matteo Parrino
- Tags: SEC Filings, SW, Industry: Materials

[Smurfit Westrock](https://www.bullished.co/tag/sw/), which makes corrugated boxes, folding cartons and other paper-based packaging, now [estimates 2026 adjusted EBITDA at about $4.7 billion](https://www.sec.gov/Archives/edgar/data/0002005951/000110465926119345/tm2628367d1%5Fex99-1.htm?ref=bullished.co), as what CEO Tony Smurfit called unprecedented cost inflation cut into third-quarter profit. Sales rose, but adjusted EBITDA, the company's measure of operating earnings before interest, taxes, depreciation and one-offs, fell to $1,205 million from $1,302 million a year earlier, the company said Wednesday in an [8-K](https://www.sec.gov/Archives/edgar/data/0002005951/000110465926119345/tm2628367d1%5F8k.htm?ref=bullished.co).

## Sales up, margins down

Net sales rose to $8,161 million from $8,003 million. The adjusted EBITDA margin [slipped to 14.8%](https://seekingalpha.com/news/4658725-smurfit-westrock-non-gaap-eps-of-045-misses-by-012-revenue-of-816b-misses-by-120m?ref=bullished.co) from 16.3%.

Net income was $219 million against $245 million, and basic earnings per share were $0.42 against $0.47\. Adjusted basic EPS [fell to $0.45](https://seekingalpha.com/news/4658725-smurfit-westrock-non-gaap-eps-of-045-misses-by-012-revenue-of-816b-misses-by-120m?ref=bullished.co) from $0.58\. Cash from operations dropped to $874 million from $1,133 million.

For the first nine months, adjusted EBITDA was $3,421 million versus $3,767 million a year earlier. Impairment and restructuring costs were $26 million in the quarter versus $65 million a year ago, and $199 million for nine months versus $360 million.

## A $700 million cost squeeze

Smurfit said the company expects to absorb about $700 million of extra freight and energy costs in 2026, "significantly more than anticipated." He also cited somewhat weaker than anticipated converting volumes, the box and carton-making side of the business.

Management says it has pushed price increases across most paper grades that should "more than offset" costs, with the full benefits expected "into 2027." In Europe, containerboard increases are being passed on with the normal time lag.

## North America, the biggest region

North America earned adjusted EBITDA of $760 million at a 15.6% margin, versus $810 million and 17.2% a year earlier. Smurfit said the region remains sold out in all containerboard grades and most consumer grades.

Europe, the Middle East, Africa and Asia-Pacific earned $379 million at 13.4%, versus $419 million and 14.8%. Latin America earned $126 million at 21.4%, versus $116 million and 21.3%. During the quarter the company agreed to acquire CMPC's containerboard assets in Chile.

The board approved a quarterly dividend of $0.4523 per share, payable December 10 to holders of record on November 13.

The company runs 57 paper mills and 450 converting plants across 40 countries, and its full-year outlook now depends on price increases catching up with costs through 2027.

Learn

- [Item 2.02: results of operations →](https://www.bullished.co/learn/8-k-items-explained/#item-202-results-of-operations)  
From 8-K Items Explained: What Every Item Code From 1.01 To 9.01 Tells You, With Examples

### Sources

- [8-K Filing — Smurfit Westrock plc (SW)](https://www.sec.gov/Archives/edgar/data/0002005951/000110465926119345/tm2628367d1%5F8k.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit tm2628367d1\_ex99-1.htm — Smurfit Westrock plc 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0002005951/000110465926119345/tm2628367d1%5Fex99-1.htm?ref=bullished.co) — SEC EDGAR
- [Smurfit Westrock Non-GAAP EPS of $0.45 misses by $0.12, revenue of $8.16B misses by $120M](https://seekingalpha.com/news/4658725-smurfit-westrock-non-gaap-eps-of-045-misses-by-012-revenue-of-816b-misses-by-120m?ref=bullished.co) — seekingalpha.com

### More on Smurfit Westrock

- [Smurfit Westrock CEO Says Europe's 10-To-1 Gas Gap Versus U.S. Forces Closures Or More Price Hikes](https://www.bullished.co/smurfit-westrock-ceo-says-europes-10-to-1-gas-gap-versus-u-s-forces-closures-or-more-price-15c6107e/)

[All Smurfit Westrock (SW) coverage →](https://www.bullished.co/tag/sw/)