International Paper recently reported first quarter 2013 net earnings attributable to common shareholders totaling $318 million ($0.71 per share), compared with net earnings of $235 million ($0.53 per share) in the fourth quarter of 2012 and $188 million ($0.43 per share) in the first quarter of 2012. Amounts in all periods include the impact of special items, non-operating pension expense and discontinued operations.
"Industrial Packaging posted solid results driven by improved pricing and synergies, however, the company's overall performance in the quarter was muted by seasonally slow demand across our global operations, weak earnings from xpedx and an unfavorable foreign exchange swing at Ilim," said John Faraci, Chairman and Chief Executive Officer. "Looking ahead, peak annual maintenance outage spending and expansion project ramp-up costs at Ilim will impact the second quarter. Earnings runway from our strategic projects and announced pricing initiatives will position the company to deliver step-change financial performance in the second half of 2013, regardless of what looks to be a continued slow and uneven global economy."
