Cardboard box-maker’s Mexican and Canadian operations face US tariff risks
Smurfit Westrock’s shares fell on Wednesday in New York as the world’s largest cardboard box-maker, created last summer by merger, disappointed the market with its fourth-quarter earnings and outlook for early 2025.
“Smurfit WestRock’s first full-year consolidated results fell slightly short of fourth-quarter consensus expectations,” said Lewis Roxburgh, an analyst with Goodbody Stockbrokers. “This is a resilient set of results, and positions the business well as pricing pressures ease and volumes start to recover in 2025,” said Mr Roxburgh.
“Our synergy program of $400 million is on track and will be completed by the end of this year. Moreover, there are significant operational and commercial opportunities, at least equating to that synergy target,” said Mr Smurfit. The group’s Mexican operations face the largest risk, even if this is indirect. The US imports a large amount of consumer goods and foods from there, and the fear the impact of tariffs on end products may cause packaging demand to decline.
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