International Paper (NYSE: IP) today reported second quarter 2015 net earnings attributable to common shareholders of $227 million ($0.54 per share) compared with net earnings of $313 million ($0.74 per share) in the first quarter of 2015 and $161 million ($0.37 per share) in the second quarter of 2014. Operating Earnings were $409 million ($0.97 per share) in the second quarter of 2015, compared with $357 million ($0.84 per share) in the first quarter of 2015 and $400 million ($0.93 per share) in the second quarter of 2014. Amounts in all periods include the impact of special items, if any, non-operating pension expense and discontinued operations. Quarterly net sales were $5.7 billion in the second quarter of 2015 compared with $5.5 billion in the first quarter of 2015 and $5.9 billion in the second quarter of 2014. Revenues continue to be negatively impacted by foreign exchange translation.
Please be advised with shipments on September 1,02018 Suzano Pulp and Paper will increase prices by 5-8% on the following products: Suzano Branded and Private Label Office Papers; Paperfect Offset Rolls and Sheets, Prisma Bright Offset Rolls and Sheets.
All current standard upcharges and terms of sale remain in effect until further notice.
Effective with all orders shipping on or after July 1, 2018, Evergreen Packaging is raising the transaction price on all specialty and coated groundwood products by $2.00/cwt. This increase applies to all products, including, but not limited to, the brands listed below: TruSpec4; TruSpec4.5; TruSpec5; Coated Freesheet; Coated 1-Side. ALL Grades, Basis Weights and Finishes. All standard upcharges will continue to apply.
As you are aware, two U.S. producers of supercalendered paper, Madison Paper Industries and Verso Corporation, filed a petition several months ago with the U.S. International Trade Commission (ITC) and U.S. Department of Commerce, seeking the imposition of countervailing duties on supercalendered paper imported from Canada. The petition identified four Canadian mills, including Port Hawkesbury Paper. The process is expected to continue on into late 2015; however, on July 28th, we expect to know the results of an interim ruling by the Department of Commerce, which could see the imposition of an interim duty levied on the Canadian mills. It is important to understand that the duties would impact not only Port Hawkesbury Paper, but other members of the supercalendered paper industry in Canada. We are currently preparing for a site visit involving representatives from the Department of Commerce in early August, with whom we are fully cooperating. This visit will allow us to further prove the points of our legal case. We are also in regular communication with our customers and suppliers, who continue to support the mill. We are working on this matter in close coordination with the Canadian Federal and Nova Scotia Provincial governments. Our legal teams are focused on vigorously defending this matter, as the case is without merit. Once we know more about any interim measures, we will advise our stakeholders. Below are a few questions we’ve been asked, and their corresponding answers. If you have any further questions, please contact me directly. Thank you for your continued interest in, and support of, Port Hawkesbury Paper. Tom Gallagher, President of Sales, Port Hawkesbury Paper