International Paper Posted Robust Earnings in Q2 2022

SEATTLE (Scrap Monster): International Paper (IP) today reported second quarter 2022 financial results. The earnings beat forecasts by analysts. The revenue topped expectations by registering 13% year-on-year.

The company reported Q2 2022 adjusted earnings of $1.24 share. The bottom line witnessed 51% improvement over the year. The impacts on account of elevated input costs were offset by higher segment sales and robust operational performance.

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International Paper reported earnings per share from continuing operations of $1.38 in Q2 2022, when compared with $0.78 in the year-ago quarter. The net sales totalled $5.39 billion in the quarter, significantly higher by 13% over the prior year quarter. The adjusted cost of sales was $3,758 million during the quarter, up 10% year-over-year from $3,428 million. The adjusted gross profit too surged higher by 19% to $1,604 million.

The operating profits from Industrial Packaging segment recorded 44% year-on-year surge to $560 million. The segment sales too were up by 11% at $4.5 billion. The Global Cellulose Fibers segment operating profit zoomed from $1 million in the year-ago quarter to $25 million in Q2 this year.

Mark Sutton, Chairman, IP noted that the strong operational and commercial performance contributed to significant margin expansion despite challenges from rising input costs and supply chain bottlenecks.