International Paper's 4Q sales decreased 4.7% to $5.24 billion

Photo: International Paper

International Paper's 4Q 2020 net earnings decreased by 7.3% to $153million, compared to $165 million in 4Q 2019. Net sales down 4.7% to $5.24 billion in 4Q 2020.

 

Full-year 2020 net earnings (loss) were $482 million, compared with $1.2 billion for full-year 2019. Net sales decreased to $20.5 billion, compared to $22.37 billion in 2019.

 

"Our performance while navigating through the impacts of the pandemic in 2020 reaffirms my admiration and appreciation for our employees and their on-going commitment to take care of each other and our customers," said Mark Sutton, Chairman and Chief Executive Officer. "Above all, the health and safety of our employees remains our most important responsibility."

 

Sutton added, "In terms of results, International Paper delivered solid earnings and outstanding cash generation in the fourth quarter and full-year 2020. Our performance demonstrates the strength and resilience of our employees, our diverse customer base and our world-class manufacturing and supply chain capabilities.

 

In 2020, we returned $800 million to shareholders and reduced debt by $1.7 billion to enhance our financial strength, while continuing to strengthen our packaging business through targeted investments.

 

As we enter 2021, we anticipate continued strong demand for corrugated packaging and pulp and are poised to grow earnings, as we take actions to build a better IP and accelerate value creation for our customers and shareholders."

International Paper is a leading global producer of renewable fiber-based packaging, pulp and paper products with manufacturing operations in North America, Latin America, Europe, North Africa and Russia.