International Paper's2Q 2020 net earnings (loss) were $266 million ($0.67 per diluted share), compared with $(141) million ($(0.36) per diluted share) in the 1Q 2020 and $292 million ($0.73 per diluted share) in the 2Q 2019.
2Q adjusted operating earnings (non-GAAP) of $305 million ($0.77 per diluted share) compared with $226 million ($0.57 per diluted share) in the 1Q 2020 and $460 million ($1.15 per diluted share) in the 2Q 2019.
2Q net sales were $4,866 million, compared to $ 5,667 million in the 2Q 2019.
“International Paper delivered solid earnings and generated strong cash from operations while navigating the COVID-19 pandemic and its significant economic impact," said Mark Sutton, Chairman and CEO. "Our performance demonstrates the strength and resilience of our employees, our diverse customer base and our world-class manufacturing and supply chain capabilities. Looking ahead, we will continue to focus on cash generation to reinforce the company's financial strength as we manage through ongoing uncertainty."
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.