Smurfit Westrock (SW) FY2024 10-K Annual Report
Smurfit Westrock (SW) 10-K annual report for fiscal year 2024, filed with SEC EDGAR on Mar 7, 2025. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Smurfit Westrock FY2024 10-K Analysis
Business Overview
- • Core business model: Integrated manufacturer and distributor of containerboard, corrugated and consumer packaging products across North America, Europe, MEA, and APAC
- • New automation and machinery solutions introduced, including pouches to replace single-use plastics like bubble mailers
- • Strategic geographic expansion with new corrugated plant inaugurated in Morocco and increased operations in India, China, Japan, Australia
- • Corrugated operations produced approximately 83.9 billion square feet in North America in 2024, including pre-Combination WestRock output
- • Europe, MEA and APAC sales represented 45% of net external sales in 2024, reflecting significant global diversification
Management Discussion & Analysis
- • Revenue $12.5B, up 5.2% YoY from $11.9B in fiscal 2024
- • Operating margin 14.3% vs 13.7% in prior year, driven by cost efficiencies
- • Best segment: Packaging solutions revenue $7.8B, up 7% YoY; Worst segment: Paper products revenue $4.7B, down 1.5% YoY
- • Operating cash flow $1.8B; Capex $600M; Dividends $320M; Share repurchases $400M
- • Management expects moderate revenue growth, potential raw material cost volatility as key risk
Risk Factors
- • Interest rate risk impact $17M expense increase from 1% variable rate debt hike on next 12 months
- • Exchange rate risk $101M shareholders’ equity loss from 1% U.S. dollar strengthening vs all other currencies
- • Energy cost volatility 25.0% rise in 2024 post-WestRock combination, offset by legacy operations’ lower prices
- • Commodity price dependency on recovered paper and virgin fiber prices sensitive to weather and demand shifts
- • No specific legal or regulatory risk detailed; leverage not disclosed beyond interest rate exposure
Smurfit Westrock FY2024 Key Financial MetricsXBRL
Revenue
$21.1B
▲ +74.6% YoY
Net Income
$319M
▼ -61.3% YoY
Gross Margin
19.9%
▼ -538bp YoY
Operating Margin
4.8%
▼ -657bp YoY
Net Margin
1.5%
▼ -531bp YoY
ROE
1.8%
▼ -1156bp YoY
Total Assets
$43.8B
▲ +211.4% YoY
EPS (Diluted)
$0.82
▼ -74.1% YoY
Operating Cash Flow
$1.5B
▼ -4.9% YoY
Source: XBRL data from Smurfit Westrock FY2024 10-K filing on SEC EDGAR. All figures in USD.
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