Smurfit WestRock Cuts Full-Year EBITDA Forecast

Smurfit WestRock reported third-quarter revenue of $8.0 billion, adjusted EPS of $0.58 (below consensus), EBITDA of $1.3 billion and a statutory profit of $245 million, swinging from a year-earlier loss. The group cut its full-year adjusted EBITDA guidance to $4.9–$5.1 billion (from $5.0–$5.2 billion), blaming weak North American demand and announcing additional economic downtime in U.S. factories in Q4. Management said integration of the $11 billion WestRock deal has progressed, turning 65–70% of previously loss-making U.S. contracts profitable versus about 40% in July, and noted operational improvements across North America, EMEA, APAC and Latin America. The downgrade and downtime prompted the shares to fall roughly 9–10% intraday and left the stock significantly down year-to-date. Executives cautioned that demand in U.S. categories such as confectionery, foods, retail and e-commerce remains soft and said they are not assuming any consumer uplift from potential U.S. rate cuts; CEO Tony Smurfit also confirmed a dividend increase.