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International Paper Reports 2Q 2022 Results

Packaging leader's net sales were $5.389 billion, up from $5.237 billion in first quarter 2022 and $4.77 billion in 2Q 2021.

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By: DAVID SAVASTANO

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

International Paper reported second quarter 2022 financial results. Net sales were $5.389 billion, up from $5.237 billion in first quarter 2022 and $4.77 billion in 2Q 2021.

Second quarter net earnings (loss) attributable to International Paper of $511 million ($1.38 per diluted share) compared with $360 million ($0.95 per diluted share) in the first quarter of 2022 and $432 million ($1.09 per diluted share) in the second quarter of 2021.

Cash provided by operations was $390 million, bringing year-to-date to $978 million

“International Paper delivered strong revenue and earnings growth in the second quarter,” said Mark Sutton, chairman and CEO. “We performed well both commercially and operationally, which contributed to margin expansion despite a challenging supply chain and input cost environment. Looking ahead to the third quarter, we expect the realization of prior price movements to outpace higher input costs.

“Our Building a Better IP set of initiatives delivered $65 million of additional earnings improvement in the second quarter, for a total of $105 million through the first half of the year,” Sutton added. “Given this strong momentum, we are confident in achieving the high end of our full-year target.”

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