International Paper reported 2Q 2018 net earnings of $405 million ($0.97 per diluted share) compared with $729 million ($1.74 per diluted share) in the 1Q 2018 and net earnings of $80 million ($0.19 per diluted share) in the 2Q 2017. Net sales were $5.8 billion in the 2Q 2018 compared with $5.6 billion in the 1Q 2018 and $5.4 billion in the 2Q 2017, as the company said in the press release received by Lesprom Network.
Adjusted operating earnings in the 2Q 2018 were $498 million ($1.19 per diluted share) compared with $395 million ($0.94 per diluted share) in the 1Q 2018, and $274 million ($0.66 per diluted share) in the 2Q 2017.
Business segment operating profits were $697 million in the 2Q 2018 compared with $512 million in the 1Q 2018 and $157 million in the 2Q 2017.
"International Paper delivered a very strong 2Q and year-over-year earnings growth," said Mark Sutton, Chairman and CEO. "We had outstanding commercial performance, with sequential volume growth and price realization across our three businesses. Operationally, our global team members performed well in a heavy maintenance outage quarter and continue to work aggressively to offset higher distribution and continuing input cost pressure. We see healthy demand across our global operations and are confident in our commitment to deliver a second consecutive year of strong earnings growth."
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, Russia and India.
