International Paper Reports First Quarter 2018 Earnings

International Paper (NYSE: IP) today reported first quarter 2018 net earnings attributable to International Paper of $729 million ($1.74 per diluted share) compared with $1.5 billion ($3.50 per diluted share) in the fourth quarter of 2017 and net earnings of $209 million ($0.50 per diluted share) in the first quarter of 2017. Net earnings in all periods include the impact of special items, if any, non-operating pension expense and discontinued operations.

Adjusted operating earnings in the first quarter of 2018 were $395 million  ($0.94 per diluted share) compared with $530 million ($1.27 per diluted share) in the fourth quarter of 2017, and $232 million ($0.56 per diluted share) in the first quarter of 2017.

Quarterly net sales were $5.6 billion in the first quarter 2018 compared with $5.7 billion in the fourth quarter of 2017 and $5.1 billion in the first quarter of 2017.

Business segment operating profits were $512 million in the first quarter of 2018 compared with $824 million in the fourth quarter of 2017 and $414 million in the first quarter of 2017.

Industrial Packaging operating profits in the first quarter of 2018 were $437 million ($464 million excluding special items) compared with $609 million ($614 million excluding special items) in the fourth quarter of 2017. In North America, strong demand in box and export containerboard markets, along with price realization, were more than offset by seasonally lower sales volume, production constraints due to weather related disruptions and maintenance outage costs.

Global Cellulose Fibers operating profits in the first quarter of 2018 were $11 million ($15 million excluding special items) compared with $79 million ($98 million excluding special items) in the fourth quarter of 2017.  Higher sales price realizations were partially offset by seasonally lower sales volume, while planned maintenance outage costs increased significantly as 40% of the 2018 annual outages were completed in the first quarter.

Printing Papers operating profits in the first quarter of 2018 were $64 million versus $136 million in the fourth quarter of 2017. In North America, the benefits from increased sales prices and a favorable mix were more than offset by higher planned maintenance outages and higher input costs related to transportation and energy.  In Brazil, seasonally lower sales volumes and an unfavorable geographic and product mix exceeded the benefits from higher sales price realizations.  In Europe and Russia, earnings decreased due to higher planned maintenance outage costs, higher input costs and lower sales volumes, partially offset by improved pricing.
more detail at:  http://internationalpaper2015.q4web.com/news-releases/press-r/2018/International-Paper-Reports-First-Quarter-2018-Earnings/default.aspx

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