IP Posted Strong Cash Flow From Operations in Q2 This Year

SEATTLE (Scrap Monster): International Paper (IP) reported second quarter 2020 results. The company generated strong cash flow from operations. Meantime, the paper segment results tumbled during the quarter.

The press release noted that the Q2 net earnings (loss) attributable to International Paper of $266 million ($0.67 per diluted share). This is upon comparison with ($141 million) or ($0.36) per diluted share in the prior quarter. The Q2 adjusted operating earnings of $305 million or $0.77 per diluted share, compared with $226 million or $0.57 per diluted share. The cash provided by operations during Q2 totalled $890 million. The liquidity stood at $3.6 million at the end of the quarter.

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IP’s Industrial Packaging segment reported operating profits of $449 million in the second quarter of 2020. The losses by Global Cellulose Fibers segment narrowed from $54 million in Q2 this year to $10 million in Q2. Meantime, the Printing Papers segment swayed to loss of $11 million, compared with profit of $96 million in the prior quarter.

Mark Sutton, Chairman and CEO, IP said that the company was able to deliver strong earnings, while navigating the Covid-19 pandemic and its economic impact. The solid earnings demonstrate the strength and resilience of its employees, its diverse customer base and world-class manufacturing and supply chain capabilities.