Smurfit Westrock (SW) Q3 FY2023 earnings: revenue $2.9 billion

Smurfit Westrock plc (SW) reported revenue of $2.9 billion for Q3 FY2023, the quarter ended 30 September 2023. Net income was $229 million, and diluted earnings per share $0.88. The figures are the company's own, from the 10-Q it filed with the SEC on 8 November 2024.

Revenue

$2.9 billion

Q3 FY2023Q3 FY2023

Operating margin

12.1%

Q3 FY2023Q3 FY2023

Net income

$229 million

Q3 FY2023Q3 FY2023

Diluted EPS

$0.88

Q3 FY2023Q3 FY2023

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ million	Q3 FY2023	Quarter before	A year earlier
Revenue	2,915	n/a	n/a
Cost of revenue	2,173	n/a	n/a
Gross profit	742	n/a	n/a
Gross margin	25.5%	n/a	n/a
Selling, general and administrative	371	n/a	n/a
Operating income	354	n/a	n/a
Operating margin	12.1%	n/a	n/a
Interest expense	46.0	n/a	n/a
Pre-tax income	302	n/a	n/a
Income tax	73.0	n/a	n/a
Effective tax rate	24.2%	n/a	n/a
Net income	229	n/a	n/a
Net margin	7.9%	n/a	n/a
Diluted EPS	$0.88	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2023	Quarter before	A year earlier
Operating cash flow	948	n/a	n/a
Cash from investing	-677	n/a	n/a
Cash from financing	-378	n/a	n/a
Depreciation and amortisation	147	n/a	n/a
Share-based compensation	7.0	n/a	n/a
Diluted shares, weighted	259m	n/a	n/a
Shares outstanding at period end	520m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2023	Quarter before	A year earlier	On the quarter	On the year	Last 8 quarters
Shareholders' equity	5,966	n/a	n/a
Cash and equivalents	729	n/a	n/a

Questions

What was Smurfit Westrock's revenue in Q3 FY2023?

Smurfit Westrock (SW) reported revenue of $2.9 billion for Q3 FY2023, the quarter ended 30 September 2023.

How much did Smurfit Westrock earn in Q3 FY2023?

Net income for Q3 FY2023 was $229 million, and diluted earnings per share $0.88.

When did Smurfit Westrock report Q3 FY2023 results?

Smurfit Westrock filed its 10-Q for the quarter ended 30 September 2023 with the SEC on 8 November 2024.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q1 FY2024	Q2 FY2024 †	Q3 FY2024 †	Q4 FY2024 * †	Q1 FY2025 †	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	2,915	2,930	2,969	7,671	7,539	7,656	7,940	8,003	7,580	7,712	8,031	8,161
Cost of revenue	2,173	2,220	2,276	6,321	6,097	6,079	6,425	6,434	6,198	6,444	6,632	6,721
Gross profit	742	710	693	1,350	1,442	1,577	1,515	1,569	1,382	1,268	1,399	1,440
Gross margin	25%	24%	23%	18%	19%	21%	19%	20%	18%	16%	17%	18%
SG&A	371	380	389	1,007	996	973	963	963	920	961	970	927
Operating income	354	307	244	55.0	401	553	251	526	389	253	309	487
Operating margin	12%	10%	8%	1%	5%	7%	3%	7%	5%	3%	4%	6%
Interest expense	46.0	37.0	75.0	209	204	195	208	204	233	198	208	202
Pre-tax income	302	267	187	-117	223	390	58.0	336	175	84.0	128	314
Tax rate	24%	28%	29%	n/a	35%	2%	145%	27%	44%	25%	31%	30%
Net income	229	191	132	-150	146	384	-28.0	246	97.0	65.0	89.0	222
Net margin	8%	7%	4%	-2%	2%	5%	-0%	3%	1%	1%	1%	3%
Diluted EPS	$0.88	$0.73	$0.51	-$0.30	$0.28	$0.73	-$0.05	$0.47	$0.18	$0.12	$0.17	$0.42
Operating cash flow	948	0.0	0.0	702	781	235	829	1,133	1,195	204	765	874
Capital expenditure	n/a	208	177	512	569	477	522	610	583	624	465	514
Free cash flow	n/a	-208	-177	190	212	-242	307	523	612	-420	300	360
Buybacks	n/a	27.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	n/a	n/a	n/a
Dividends paid	n/a	0.0	335	158	157	225	225	225	225	237	237	238
Shares outstanding	520m	n/a	522m	520m	520m	522m	522m	522m	522m	524m	525m	525m
Filing	10-Q	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2023, filed 8 November 2024: the filing.