Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/html/wp-includes/functions.php on line 6260 International Paper Reports 2Q 2017 Earnings - Ink World Magazine

What are you searching for?

Sign in
Industry News, Ink Manufacturers News, Printers News

International Paper Reports 2Q 2017 Earnings

Quarterly net sales were $5.8 billion in 2Q 2017, compared with $5.5 billion in 1Q 2017 and $5.3 billion in 2Q 2016.

Author Image

By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

International Paper reported second quarter 2017 net earnings attributable to International Paper of $80 million ($0.19 per share) compared with net earnings of $209 million ($0.50 per share) for the first quarter of 2017 and net earnings of $40 million ($0.10 per share) in the second quarter of 2016.
 
Adjusted operating earnings in the second quarter of 2017 were $270 million ($0.65 per share) compared with $249 million ($0.60 per share) in the first quarter of 2017 and $379 million ($0.92 per share) in the second quarter of 2016.
 
Quarterly net sales were $5.8 billion in the second quarter of 2017 compared with $5.5 billion in the first quarter of 2017 and $5.3 billion in the second quarter of 2016. The year-over-year revenue increase was primarily due to the pulp business that was acquired in late 2016.
Business segment operating profits in the second quarter of 2017 were $129 million, compared with $428 million in the first quarter of 2017 and $627 million in the second quarter of 2016. The second quarter of 2017 includes the impact of the Kleen Products settlement.
 
Cash provided by operations was $645 million in the second quarter of 2017 and $605 million in the second quarter of 2016. Free cash flow (non-GAAP) was $355 million for the second quarter of 2017 and $527 million in the second quarter of 2016.
 
“Solid second quarter results were supported by healthy demand in our North American Industrial Packaging business and record fluff pulp sales which were partially offset by higher than expected OCC costs,” said Mark Sutton, chairman and CEO. “Looking forward, we see margin expansion associated with the realization of our announced price increases, acquisition synergies and significantly lower outage expenses driving a very strong second half and putting IP on track to deliver our full year earnings target.”

Add us as a preferred source on Google

Get the latest Ink World magazine news, insights and analysis in your Google Search and AI experiences.

Add Ink World magazine as a preferred source on Google (opens in a new tab)

Keep Up With Our Content. Subscribe To Ink World magazine Newsletters