International Paper Co · Q2 2024 earnings

Briefing

Reported increased sequentially financial results on better price and seasonally higher volumes.

International Paper reported second quarter net earnings of $498 million, or $1.41 per diluted share, which includes a tax benefit of $338 million related to internal legal entity restructuring. Adjusted operating earnings (non-GAAP) were $193 million, or $0.55 per diluted share. The company generated $365 million in cash from operations and returned $160 million to shareholders through dividends.

• Second quarter net earnings of $498 million ($1.41 per diluted share); includes a tax benefit of $338 million ($0.96 per diluted share) related to internal legal entity restructuring
• Second quarter adjusted operating earnings (non-GAAP) of $193 million ($0.55 per diluted share)
• Second quarter cash provided by operations of $365 million
• Returned $160 million to shareholders in dividends

Headline financials

Revenue & EPS history

While our second quarter financial results increased sequentially on better price and seasonally higher volumes, we expect near-term performance to be challenged. In order to accelerate improvement, we are deploying an 80/20 business process. We will make the changes needed to focus our portfolio, become excellent with our customers and optimize our cost to deliver profitable growth. In North America, our investments will center on providing customers with the most reliable and innovative packaging solutions. We also look forward to the combination with DS Smith and together creating significant value for our shareholders.