Financial Reports & Markets
International Paper delivers earnings growth in Q2 2021 results
August 4, 2021 By P&PC Staff/International Paper
International Paper has reported improvements in its financial results for the second quarter of 2021, citing net earnings (loss) of $432 million ($1.09 per diluted share).
This is compared with $349 million ($0.88 per diluted share) in the first quarter of 2021 and $266 million ($0.67 per diluted share) in the second quarter of 2020.
“International Paper delivered solid earnings growth and strong cash generation in the second quarter,” says Mark Sutton, chair and chief executive officer of International Paper, in a statement.
Second quarter adjusted operating earnings (non-GAAP) of $421 million ($1.06 per diluted share) outperformed the $299 million ($0.76 per diluted share) in the first quarter of 2021 and $305 million ($0.77 per diluted share) in the second quarter of 2020.
First quarter 2021 net earnings and adjusted operating earnings include a pre-tax earnings impact of $(80) million ($(0.15) per diluted share) related to the winter storm in the U.S.
“Commercially, we achieved strong revenue growth, while executing well in a very challenging supply chain and input cost environment,” says Sutton.
“Looking ahead to the third quarter, we expect demand to remain strong and margins to expand meaningfully as realization of prior price movements outpaces input and transportation costs, and we step down from our highest maintenance outage quarter.
“We continue to make excellent progress on the spin-off of our papers business, which we expect to complete on October 1st. Our team is doing an outstanding job managing complexity.”
Read the full Q2 2021 financial report from International Paper.
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