Company Description
Smurfit Westrock plc (NYSE: SW, LSE: SWR) is a public limited company incorporated in Ireland that focuses on paper-based packaging solutions. According to the company’s public disclosures, Smurfit Westrock operates in the Packaging & Containers industry within the broader consumer cyclical sector. The business was formed through the combination of Smurfit Kappa Group plc and WestRock Company, and company communications describe Smurfit Westrock as one of the world’s leading providers of paper-based packaging, with approximately 100,000 employees across 40 countries.
The company’s activities center on paper-based and corrugated packaging. Polygon data notes that Smurfit Westrock manufactures corrugated packaging and consumer packaging, such as folding cartons and paperboard, and that after the merger of Smurfit Kappa and WestRock in summer 2024, Smurfit Westrock became a major producer of containerboard with substantial operations in North America, South America, and Europe. Company news releases also emphasize an extensive geographic footprint, referring to operations across North America, Europe, the Middle East and Africa (EMEA), Asia-Pacific (APAC), and Latin America.
Smurfit Westrock reports its performance through three main operating segments, which are also its reportable segments. As described in its financial disclosures:
- North America, which includes operations in the United States, Canada and Mexico.
- Europe, the Middle East and Africa (EMEA), and Asia-Pacific (APAC).
- Latin America (LATAM), which includes operations in Central America and the Caribbean, Argentina, Brazil, Chile, Colombia, Ecuador and Peru.
This segment structure reflects how the executive management team, identified as the chief operating decision maker, allocates resources and assesses performance across the business. The company highlights strong market positions in these regions in its public commentary, and notes that its mill system and converting operations are integrated across these geographies.
Smurfit Westrock’s public earnings releases describe a business that generates net sales and net income from its packaging operations, and that also reports Adjusted EBITDA, Adjusted EBITDA Margin and Adjusted Free Cash Flow as non-GAAP measures. These non-GAAP metrics are used by the company to discuss underlying operating performance alongside GAAP measures. The company also reports net cash provided by operating activities and provides reconciliations for its non-GAAP measures in its financial materials.
In addition to its operating performance, Smurfit Westrock emphasizes its scale and geographic reach. Company statements refer to an “unrivalled” or “unique” scale, geographic reach and product portfolio within paper-based packaging, and to leading market positions across many of the 40 countries in which it operates. The company also highlights its integrated model, noting that its mill system runs close to full utilization in certain regions and that it continues to optimize its asset base through closures, investments and restructuring actions.
Smurfit Westrock is headquartered in Dublin, Ireland, as indicated in its SEC filings, and its ordinary shares, with a par value of $0.001 per share, are listed on the New York Stock Exchange under the symbol SW. The company also has a listing on the London Stock Exchange under the symbol SWR. Its SEC filings identify it as a foreign private issuer with a Commission File Number of 001-42161 and an Irish tax identification reference.
The company’s capital allocation framework includes a recurring quarterly dividend on its ordinary shares. Multiple news releases describe a quarterly dividend of $0.4308 per ordinary share, with payment timetables and currency election options for shareholders. The default payment currency for shareholders holding ordinary shares through a Depository Trust Company participant or in registered form is U.S. dollars, while holders of Depository Interests can elect to receive dividends in U.S. dollars, pounds sterling or euros, subject to deadlines communicated in each dividend announcement.
Smurfit Westrock’s public communications also describe ongoing restructuring and capacity optimization. For example, the company has announced the permanent closure of a coated recycled board mill in St. Paul, Minnesota, and the discontinuation of production at a containerboard mill in Forney, Texas, while maintaining a specialty coating facility there. It has also initiated consultations with local works councils in Germany regarding potential permanent closure of two converting facilities. These actions are framed as responses to capacity needs, operating costs and a focus on improving the business, and they are associated with impairment and restructuring costs disclosed in the company’s financial statements.
In its quarterly and annual results, Smurfit Westrock discusses the performance of its North American, EMEA & APAC, and Latin American operations, including Adjusted EBITDA and margins by region. The company notes operational and commercial improvements in North America, good returns and strong positions in EMEA and APAC despite challenging market backdrops, and strong market positions and continued operational improvement in Latin America. It also refers to a synergy program associated with the combination of Smurfit Kappa and WestRock, with a stated target of $400 million in synergies and additional opportunities for structural improvement through sharper commercial and operational focus.
Smurfit Westrock’s financing activities are also documented in its SEC filings. In November 2025, a wholly owned direct subsidiary, Smurfit Westrock Financing Designated Activity Company, issued U.S. dollar-denominated senior notes due 2036, and another wholly owned indirect subsidiary, Smurfit Kappa Treasury Unlimited Company, issued euro-denominated senior notes due 2031. These notes are guaranteed by Smurfit Westrock and various subsidiaries, and the company disclosed that it intends to use the net proceeds to redeem existing notes and for general corporate purposes, including repayment of other indebtedness, as well as to finance or refinance a portfolio of eligible assets and expenditures in line with its Green Finance Framework.
Through its stock exchange listings, regular earnings releases, dividend announcements, restructuring updates and financing disclosures, Smurfit Westrock provides investors with detailed information about its operations, financial condition, capital structure and geographic footprint. The company’s emphasis on paper-based packaging, integrated mill and converting systems, and global reach across North America, EMEA & APAC and Latin America defines its position within the Packaging & Containers industry.
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Buyback capacity begins 2027
Short Interest History
Short interest in Smurfit WestRock PLC (SW) currently stands at 22.3 million shares, down 2.1% from the previous reporting period, representing 4.3% of the float. Over the past 12 months, short interest has increased by 42.2%. This relatively low short interest suggests limited bearish sentiment. The 5.1 days to cover indicates moderate liquidity for short covering.
Days to Cover History
Days to cover for Smurfit WestRock PLC (SW) currently stands at 5.1 days, up 21.6% from the previous period. This moderate days-to-cover ratio suggests reasonable liquidity for short covering, requiring about a week of average trading volume. The ratio has shown significant volatility over the period, ranging from 3.4 to 7.3 days.