Smurfit Westrock Plc (SW) Earnings Call Transcripts

Smurfit Westrock Plc's Latest Earnings Call - Q2 FY2026

In the second quarter of fiscal 2026, Smurfit Westrock reported an adjusted EBITDA of $1.14 billion, reflecting a margin of 14.2%. Despite facing significant freight cost pressures, management indicated that containerboard prices have been raised and are expected to recover through converting operations. The company has adjusted its full-year guidance for adjusted EBITDA to a range of $4.9 billion to $5.1 billion, primarily due to elevated freight costs, while maintaining a positive outlook for demand across paper grades.

Reported metrics

Guidance from management

Management expects full-year adjusted EBITDA to be in the range of $4.9 billion to $5.1 billion, reflecting the impact of higher freight costs. They indicated that pricing initiatives will take time to fully reflect in earnings, particularly into 2027.

What management said

Yes. I think, Gabe, you understand and the same in Europe that there is always a lag period as containerboard prices come in, and that can be -- depending on the customer, 1 month to up to 6 months, again, depending on the customer, and depending on the region. And so containerboard prices really rose -- actually fell in EUR 20 in the first quarter and then came back up by EUR 120 in the second quarter. So the full...

80 loss makers at the beginning, but -- so we're really doing well. But then getting to breakeven is one thing and then going from breakeven to 8% or 9%, is another. And so it's a journey, and as I say, somewhere between first and second. But really, I'm really happy with the teams and how they're embracing the new culture and the leadership. But it's not perfect everywhere, obviously. And we continue to bring in n...

What analysts pressed on

Analysts expressed concerns regarding the impact of elevated freight costs on margins and the timing of price recovery. There were questions about whether the company could sustain volume growth in the face of these challenges, particularly in North America where recent volume trends have been weaker than expected.

Main topics on the call

• Freight Cost Pressures — Management highlighted that freight costs have become a significant headwind, with Ken Bowles stating, "freight costs globally represented a significant headwind, driven largely by higher fuel costs and shipping rates." ...
• Containerboard Price Increases — The company has implemented price increases for containerboard, with Tony Smurfit noting, "we have raised containerboard prices. These will be recovered through our converting operations as we progress through this year ...
• Operational Improvements — Management reported operational progress, particularly in North America, with nearly all paper mills fully booked and no anticipated downtime. Smurfit mentioned, "our full team for the future is now in place and deliveri...
• Market Demand and Volume Expectations — Despite a slight decline in corrugated volumes, management remains optimistic about future demand, with Smurfit stating, "we would expect to see positive months coming up in August and maybe even September." This suggest...

Read the full Smurfit Westrock Plc transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 66 Smurfit Westrock Plc earnings call transcripts on record, spanning January 9, 2020 to July 29, 2026. Based on this history, Smurfit Westrock Plc reports quarterly. The most recent call on file is dated July 29, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

SW

Exchange

NYSE

Country

US

Sector

Materials

Industry

Containers and Packaging

Calls on record

66

First call

January 9, 2020

Most recent

July 29, 2026

Reporting cadence

quarterly