SW · 10-Q · 2026Q3 · Full report

Operating Cash Flow Trends

Smurfit Westrock plc · 2026-11-04 · Importance 35 · Surprise 40

Net cash provided by operating activities declined $354 million, or 16.1%, to $1,843 million in the nine months ended September 30, 2026, from $2,197 million a year earlier. A $165 million decrease in net income adjusted for non-cash items and a $189 million greater cash use from changes in operating assets and liabilities contributed to the decline. Accounts receivable increased $711 million, compared with a $249 million increase in the prior-year period, driven by higher sales volumes, prices and selling-price mix. Accounts payable increased $163 million, versus a $142 million decrease in the prior-year period, partly offsetting the working-capital cash use.

Key facts

• Net cash provided by operating activities decreased $354 million to $1,843 million in the nine months ended September 30, 2026, from $2,197 million in the prior-year period. source
• Accounts receivable increased $711 million in the nine months ended September 30, 2026, compared with a $249 million increase in the prior-year period, driven by higher sales volumes, higher prices and selling price mix. source
• Smurfit Westrock does not expect its net cash provided by operating activities to be significantly impacted by additional extensions of supplier payment terms. source
• The decrease in operating cash flow included a $165 million decrease in net income adjusted for non-cash items. source
• Changes in operating assets and liabilities increased cash used by $189 million compared with the prior-year period. source
• Accounts payable increased $163 million in the nine months ended September 30, 2026, compared with a $142 million decrease in the prior-year period, primarily due to increased purchase activity and higher costs. source
• Cash payments to financial institutions under accounts receivable monetization agreements were $50 million in the nine months ended September 30, 2026, compared with $47 million in the prior-year period. source