International Paper Reports Full-Year and Fourth Quarter 2024 Results

Andy Silvernail

Andy Silvernail, Chairman and CEO, International Paper

Financial News
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

MEMPHIS, Tenn., Jan. 30, 2025 - International Paper (NYSE: IP) today reported full-year 2024 net earnings of $557 million, or $1.57 per diluted share, and adjusted operating earnings (non-GAAP) of $400 million, or $1.13 per diluted share.

Full-year net sales were $18.6 billion in 2024 and $18.9 billion in 2023. The reported fourth quarter net loss was $147 million, or $0.42 per diluted share, and adjusted operating loss (non-GAAP) was $7 million, or $0.02 per diluted share. Fourth quarter net sales were $4.6 billion in 2024 and 2023.

Full-year and fourth quarter net earnings include a pre-tax charge of $395 million for accelerated depreciation and restructuring charges, including $334 million related to the previously announced closure of the Company's Georgetown, S.C. pulp mill.

"During 2024, we initiated our strategy to deliver profitable growth as the low-cost, most reliable and innovative sustainable packaging solutions provider for our customers," said Chairman and CEO Andy Silvernail. "Through a disciplined 80/20 approach, we have restructured our corporate organization, added resources to the business, reduced structural costs through footprint actions and successfully piloted regional box plant optimization. In the quarter, our earnings have stabilized and we intend to accelerate earnings improvement in 2025."

"2025 will be a transformational year with disciplined execution to further reduce costs and balance our capacity to our demand," Silvernail added. "We will continue to optimize and invest in our box plant system to deliver service excellence for our customers while actively exploring strategic options for our Global Cellulose Fibers business. We look forward to welcoming the DS Smith team into the IP family as we work together to become a global leader in sustainable packaging solutions." 

Link to full report

Source: International Paper