International Paper (IP) reported 1Q 2018 net of $729 million, compared with $1.5 billion in the 4Q 2017 and net earnings of $209 million in the 1Q 2017. Adjusted operating earnings in the 1Q 2018 were $395 million, compared with $530 million in the 4Q 2017, and $232 million in the 1Q 2017.
Quarterly net sales were $5.6 billion in the 1Q 2018, compared with $5.7 billion in the 4Q 2017 and $5.1 billion in the 1Q 2017.
Business segment operating profits were $512 million in the 1Q 2018, compared with $824 million in the 4Q 2017 and $414 million in the 1Q 2017.
"International Paper delivered a solid 1Q and strong year-over-year earnings growth, as we continue to see healthy global demand and solid fundamentals across our global businesses," said Mark Sutton, Chairman and CEO. "Price realization momentum continues across our three businesses and we continue to drive commercial excellence and innovative solutions that deliver superior value to our customers. Operationally, we executed well in a heavy outage quarter and managed through weather related disruptions, distribution challenges and other unusual events. Our Ilim joint venture in Russia delivered record equity earnings. Looking forward, we are confident in our outlook of strong earnings growth in 2018."
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, India and Russia.
Source: Lesprom Network