|
Smurfit WestRock PLC on Wednesday reported a swing to third-quarter profit, but saw its shares edge down as it lowered its full-year guidance range. The Dublin-based packaging firm reported pretax profit of $336 million for the three months that ended September 30, swinging from a loss of $117 million the prior year. Driving this was net sales, advancing 4.3% to US8.0 billion from $7.7 billion. Chief Executive Tony Smurfit tied the quarter’s performance to ‘the continued operational and commercial improvements in our North American business and our strong positions in EMEA and APAC and Latin America.’ Supporting the bottom line, selling, general and administrative expenses fell 4.4% to $963 million from $1.01 billion, and transaction and integration-related expenses associated with the combination dropped to $15 million from $267 million. Smurfit WestRock represents the merger of Ireland-based Smurfit Kappa Group PLC and US-based WestRock that closed in July last year. The company reported the approval of a quarterly dividend of $0.4308 per share, up from $0.3025 a year earlier, and the same dividend as in the second quarter of 2025. Smurfit WestRock shares were 5.0% lower at 3,098.00 pence each on Wednesday morning in London. In New York, shares were down 4.3% at $41.25 each in pre-market trading. ‘The year to date has been characterised by a challenging demand backdrop’, noted CEO Smurfit, as he said the company is lowering its full-year outlook as it expects to take ‘additional economic downtime in the fourth quarter to optimise our system.’ Smurfit WestRock now guides for adjusted earnings before interest, tax, depreciation and amortisation between $4.9 billion and $5.1 billion, from $5.0 billion to $5.2 billion given in the second-quarter results. ‘Our third quarter results reflect the significant progress we have made since the creation of Smurfit Westrock some 16 months ago. The steps we have taken, and continue to take, are building a better business and as we end 2025 and enter 2026 we are a much stronger company, increasingly excited about our future prospects,’ added CEO Smurfit. Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
