International Paper Reports Second Quarter 2019 Results

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HIGHLIGHTS

  • Second quarter net earnings attributable to International Paper of $292 million ($0.73 per diluted share) compared with $424 million ($1.05 per diluted share) in the first quarter of 2019 and $405 million ($0.97 per diluted share) in the second quarter of 2018
  • Second quarter adjusted operating earnings* (non-GAAP) of $460 million ($1.15 per diluted share) compared with $447 million ($1.11 per diluted share) in the first quarter of 2019 and $498 million ($1.19 per diluted share) in the second quarter of 2018
  • Second quarter equity earnings of $80 million compared with $70 million in the second quarter of 2018
  • Second quarter cash provided by operations of $1.1 billion and year-to-date of $1.8 billion compared with $1.5 billion year-to-date in the same period of 2018
  • Second quarter share repurchases of $231 million, bringing the trailing 12 month total to $811 million

"International Paper delivered solid earnings and generated strong cash from operations in the second quarter," said Mark Sutton, Chairman and Chief Executive Officer. "We continued to operate well and manage costs across our businesses. We also returned nearly $430 million to shareholders through dividends and share repurchases. Looking ahead to the third quarter, we will leverage the strength and flexibility of International Paper to maximize performance as we manage through a challenging environment."

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Source: International Paper