Smurfit Westrock Plc (SW) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 | Q1'21 |
|---|
| Sales/Revenue | 7.71B | 7.58B | 8B | 7.94B | 7.66B | 7.28B | 6.89B | 2.77B | 2.72B | 2.59B | 2.82B | 2.99B | 3.38B | 3.7B | 3.19B | 3.19B | 3.1B | 2.71B | 2.34B | 2.34B |
| Revenue Growth % | 0.73% | 4.16% | 16.17% | 186.48% | 181.97% | 180.72% | - | -1.68% | -9.1% | -23.4% | -11.7% | -6.44% | 9.27% | 36.27% | 36.46% | 36.46% | 43.16% | 25.44% | 11.33% | 11.33% |
| Cost of Goods Sold | 6.44B | 6.2B | 6.43B | 6.42B | 6.08B | 6.1B | 5.47B | 2.12B | 2.06B | 1.96B | 2.1B | 2.23B | 2.77B | 3.03B | 2.19B | 2.19B | 3.02B | 1.89B | 1.61B | 1.61B |
| COGS % of Revenue | 83.56% | 81.77% | 80.39% | 80.92% | 79.4% | 83.88% | 79.44% | 76.66% | 75.77% | 75.51% | 74.38% | 74.6% | 81.94% | 81.94% | 68.65% | 68.65% | 97.35% | 69.8% | 68.95% | 68.95% |
| Gross Profit | 1.27B | 1.38B | 1.57B | 1.51B | 1.58B | 1.17B | 1.42B | 646.92M | 657.96M | 634.97M | 722.12M | 758.72M | 611.18M | 667.85M | 1B | 1B | 82.2M | 819.5M | 726.5M | 726.5M |
| Gross Margin % | 16.44% | 18.23% | 19.61% | 19.08% | 20.6% | 16.12% | 20.56% | 23.34% | 24.23% | 24.49% | 25.62% | 25.4% | 18.06% | 18.06% | 31.35% | 31.35% | 2.65% | 30.2% | 31.05% | 31.05% |
| Gross Profit Growth % | -19.59% | 17.83% | 10.78% | 134.19% | 139.68% | 84.71% | - | -10.41% | -13.28% | 3.89% | -27.86% | -24.2% | 643.52% | -18.51% | 37.78% | 37.78% | -88.78% | 11.88% | 3.12% | 3.12% |
| Operating Expenses | 961M | 920M | 963M | 963M | 973M | 785.75M | 1.37B | 419.14M | 373.46M | 471.92M | 361.06M | 349.4M | 267.83M | 292.67M | 581.5M | 581.5M | -247.82M | 521.5M | 488M | 488M |
| OpEx % of Revenue | 12.46% | 12.14% | 12.03% | 12.13% | 12.71% | 10.8% | 19.84% | 15.12% | 13.75% | 18.2% | 12.81% | 11.7% | 7.91% | 7.91% | 18.21% | 18.21% | -8% | 19.22% | 20.86% | 20.86% |
| Selling, General & Admin | 961M | 920M | 963M | 963M | 973M | 954.68M | 916.06M | 390.2M | 361.41M | 434.78M | 370.23M | 358.62M | 196.43M | 200.35M | 583.5M | 583.5M | 233.1M | 523M | 490M | 490M |
| SG&A % of Revenue | 12.46% | 12.14% | 12.03% | 12.13% | 12.71% | 13.12% | 13.3% | 14.08% | 13.31% | 16.77% | 13.13% | 12.01% | 5.8% | 5.42% | 18.28% | 18.28% | 7.53% | 19.27% | 20.94% | 20.94% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.5M | 3.5M | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0.11% | 0.13% | - | - |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | -1000K | 1000K | 1000K | 1000K | 1000K | -1000K | -1000K | 1000K | 1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K |
| Operating Income | 253M | 462M | 606M | 552M | 604M | 387.09M | 49.4M | 227.77M | 284.5M | 163.04M | 361.06M | 409.32M | 343.34M | 375.18M | 419.5M | 419.5M | 330.02M | 298M | 238.5M | 238.5M |
| Operating Margin % | 3.28% | 6.09% | 7.57% | 6.95% | 7.89% | 5.32% | 0.72% | 8.22% | 10.48% | 6.29% | 12.81% | 13.7% | 10.14% | 10.14% | 13.14% | 13.14% | 10.66% | 10.98% | 10.19% | 10.19% |
| Operating Income Growth % | -58.11% | 19.35% | 1126.83% | 142.35% | 112.3% | 137.41% | - | -36.92% | -30.5% | -52.51% | -13.93% | -2.43% | 4.04% | 25.9% | 75.89% | 75.89% | 49.67% | 35.15% | 6% | 6% |
| EBITDA | 253M | 1.14B | 1.26B | 1.17B | 1.21B | 958.54M | 555.92M | 377.13M | 421.65M | 298.91M | 490.12M | 538.39M | 467.05M | 510.36M | 572M | 572M | 455.55M | 386.5M | 375M | 375M |
| EBITDA Margin % | 3.28% | 15% | 15.81% | 14.67% | 15.77% | 13.17% | 8.07% | 13.61% | 15.53% | 11.53% | 17.39% | 18.02% | 13.8% | 13.8% | 17.92% | 17.92% | 14.71% | 14.24% | 16.03% | 16.03% |
| EBITDA Growth % | -79.04% | 18.62% | 127.55% | 208.91% | 186.26% | 220.68% | - | -23.05% | -21.68% | -36% | -14.31% | -5.88% | 2.52% | 32.05% | 52.53% | 52.53% | 45.78% | 23.68% | 3.73% | 3.73% |
| D&A (Non-Cash Add-back) | 0 | 675M | 659M | 613M | 603M | 571.46M | 506.53M | 149.36M | 137.15M | 135.87M | 129.06M | 129.07M | 123.71M | 135.18M | 152.5M | 152.5M | 125.53M | 88.5M | 136.5M | 136.5M |
| EBIT | 0 | 462M | 606M | 552M | 604M | 218.16M | 500.24M | 256.71M | 296.54M | 200.18M | 351.9M | 400.1M | 414.75M | 467.5M | 417.5M | 417.5M | 315.31M | 296.5M | 236.5M | 236.5M |
| Net Interest Income | 0 | -203M | -177M | -182M | -167M | -167.07M | -149.51M | -30.75M | 0 | -54.6M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 30M | 27M | 26M | 28M | 29.94M | 37.6M | 0 | 0 | 13.16M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | -166M | 233M | 204M | 208M | 195M | 197M | 187.11M | 30.75M | 0 | 67.76M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 0 | -287M | -270M | -494M | -214M | -171.82M | -154.47M | -53.21M | -37.07M | -69.75M | -50.4M | -46.09M | -29.59M | -32.33M | -35M | -35M | -45.36M | -48M | -32M | -32M |
| Pretax Income | 84M | 175M | 336M | 58M | 390M | 215.26M | -105.08M | 174.56M | 247.43M | 93.3M | 310.66M | 363.23M | 313.76M | 342.85M | 384.5M | 384.5M | 284.66M | 250M | 206.5M | 206.5M |
| Pretax Margin % | 1.09% | 2.31% | 4.2% | 0.73% | 5.09% | 2.96% | -1.53% | 6.3% | 9.11% | 3.6% | 11.02% | 12.16% | 9.27% | 9.27% | 12.04% | 12.04% | 9.19% | 9.21% | 8.83% | 8.83% |
| Income Tax | -21M | 77M | 91M | 84M | 8M | 74.33M | 29.64M | 51.34M | 70.43M | 48.91M | 65.98M | 104.17M | 93.29M | 101.94M | 97.5M | 97.5M | 73.13M | 64.5M | 52.5M | 52.5M |
| Effective Tax Rate % | -25% | 44% | 27.08% | 144.83% | 2.05% | 34.53% | -28.21% | 29.41% | 28.46% | 52.43% | 21.24% | 28.68% | 29.73% | 29.73% | 25.36% | 25.36% | 25.69% | 25.8% | 25.42% | 25.42% |
| Net Income | 65M | 97M | 246M | -28M | 384M | 140.93M | -134.72M | 123.22M | 177M | 43.48M | 244.68M | 259.05M | 220M | 240.4M | 287M | 287M | 211.53M | 185.5M | 154M | 154M |
| Net Margin % | 0.84% | 1.28% | 3.07% | -0.35% | 5.02% | 1.94% | -1.96% | 4.45% | 6.52% | 1.68% | 8.68% | 8.67% | 6.5% | 6.5% | 8.99% | 8.99% | 6.83% | 6.83% | 6.58% | 6.58% |
| Net Income Growth % | -83.07% | -31.17% | 282.61% | -122.72% | 116.95% | 224.15% | - | -49.64% | -31.67% | -80.24% | -14.75% | -9.74% | 4% | 29.6% | 86.36% | 86.36% | 57.86% | 38.43% | 11.19% | 11.19% |
| Net Income (Continuing) | 65M | 98M | 245M | -26M | 382M | 140.93M | -134.72M | 123.22M | 177M | 44.38M | 244.68M | 259.05M | 220.47M | 240.91M | 287M | 287M | 211.53M | 185.5M | 154M | 154M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 25M | 27M | 26M | 27M | 25M | 27M | 24.17M | 14.94M | 14.83M | 16M | 13M | 0 | 13.94M | 15.31M | 13.58M | 13M | 14.72M | 13M | 15.47M | 13M |
| EPS (Diluted) | 0.12 | 0.18 | 0.47 | -0.05 | 0.73 | 0.31 | -0.27 | 0.48 | 0.68 | 0.23 | 0.94 | 1.00 | 0.84 | 0.92 | 1.10 | 1.10 | 0.80 | 0.71 | 0.60 | 0.60 |
| EPS Growth % | -83.56% | -41.94% | 274.07% | -111.17% | 7.35% | 34.78% | - | -48.94% | -32% | -72.62% | -14.55% | -9.09% | 5% | 29.58% | 83.33% | 83.33% | 45.45% | 29.09% | 3.45% | 3.45% |
| EPS (Basic) | 0.13 | 0.19 | 0.47 | -0.05 | 0.74 | 0.31 | -0.27 | 0.48 | 0.69 | 0.17 | 0.95 | 1.00 | 0.85 | 0.93 | 1.11 | 1.11 | 0.82 | 0.72 | 0.60 | 0.60 |
| Diluted Shares Outstanding | 538.89M | 538.89M | 526M | 522M | 526M | 457.5M | 508M | 258.82M | 260M | 259.5M | 260.35M | 259.43M | 264.16M | 262.96M | 259M | 259M | 261.68M | 262M | 258M | 258M |
| Basic Shares Outstanding | 510.53M | 520.86M | 522M | 522M | 521M | 453.5M | 508M | 258.82M | 259M | 258M | 260.35M | 260.19M | 257.4M | 262.23M | 258M | 259.85M | 257.06M | 261.77M | 257M | 258.39M |
| Dividend Payout Ratio | - | 194.87% | 91.46% | - | 58.59% | 101.23% | - | 271.87% | - | 191.67% | 123.66% | 5.41% | 22.04% | 22.04% | 43.55% | 43.55% | 26.9% | 20.49% | 73.38% | 73.38% |