International Paper (IP) reported 1Q 2017 net earnings of $209 million, compared with net earnings of $218 million for the 4Q 2016 and net earnings of $334 million in the 1Q 2016.
Adjusted operating earnings in the 1Q 2017 were $249 million, compared with $303 million in the 4Q 2016 and $330 million in the 1Q 2016.
Quarterly net sales were $5.5 billion in the 1Q 2017 compared with $5.4 billion in the 4Q 2016 and $5.1 billion in the 1Q 2016. The year-over-year revenue increase was primarily due to the pulp business that was acquired in late 2016.
Business segment operating profits in the 1Q 2017 were $428 million, compared with $464 million in the 4Q 2016 and $497 million in the 1Q 2016.
"International Paper delivered a solid 1Q in the face of several challenges, including the digester incident at our Pensacola mill and higher input costs driven by a significant rise in OCC prices," said Mark Sutton, Chairman and CEO. "Given the market fundamentals across most of our businesses in combination with several IP commercial and operational initiatives, we expect improved results pointing to a particularly strong second half as well as positive momentum entering 2018. I remain very confident in IP's ability to generate significant year-over-year earnings growth and continued strong cash flow in 2017."
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, Asia and Russia.
