International Paper reported second-quarter 2026 net sales of $6.00 billion and a loss from continuing operations of $12 million. Adjusted EBITDA from continuing operations was $587 million and cash provided by operating activities was $526 million for the quarter. The company set adjusted EBITDA targets of $780–$830 million for Q3 2026 and $3.20–$3.40 billion for full-year 2026.

Financial Highlights

  • Revenue (Net sales): $6,004 million for the three months ended June 30, 2026.
  • Earnings (Loss) from continuing operations: $(12) million for Q2 2026.
  • Adjusted EBITDA from continuing operations (non-GAAP): $587 million for Q2 2026.
  • Cash provided by operating activities: $526 million for Q2 2026; Free cash flow (non-GAAP): $(7) million for Q2 2026.
  • Diluted earnings (loss) per share from continuing operations: $(0.02); Adjusted operating earnings per share (non-GAAP): $0.04 for Q2 2026.

Business Highlights

  • Packaging Solutions North America: Net sales of $3,688 million and business segment operating profit of $204 million in Q2 2026; mill performance improved and Riverdale machine conversion completed.
  • Packaging Solutions EMEA: Net sales of $2,287 million and business segment operating loss of $(80) million in Q2 2026; lower sales volumes in a soft market and ongoing cost-out actions.
  • Strategic transactions and capacity moves: Completed acquisitions of the NORPAC mill (Longview, WA) and Delmarva corrugated packaging facility (Dover, DE); continued separation planning for the EMEA packaging business.
  • Operational actions: Increased planned maintenance outage costs and planned reliability spending in North America (including Riverdale conversion); EMEA progressed transformational investments and implemented wage increases and cost reductions.

Original SEC Filing:

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