International Paper Posted Robust Q3 2019 Earnings

SEATTLE (Scrap Monster): Memphis, Tennessee-headquartered International Paper (IP) reported solid earnings during the third quarter of 2019.

The quarterly earnings totalled $344 million or $0.87 per diluted share as compared with $292 million or $0.73 per diluted share It must be noted that IP’s Q3 earnings last year had totalled $562 million or $1.37 per diluted share. The company reported adjusted operating earnings of $431 million or $1.09 per diluted share in Q3 ‘19, in comparison with $460 million or $1.15 per diluted share in the prior quarter. The company repaid $383 million debt during the quarter.

Commenting on the company’s robust Q3 results, Mark Sutton, Chairman and Chief Executive Officer noted that the company delivered another quarter of solid earnings and strong cash generation. It demonstrates the strength and resilience of the company’s cash engine and its ability to perform well in challenging environment. The anticipated optimization of full value chain is expected to help the company maximize its performance in the quarter ahead, Sutton added.

The Industrial Packaging segment reported operating profits of $510 million in third quarter 2019. The operating loss from Global Cellulose Fibers segment stood at $3 million. IP’s Printing Papers segment operating profits in the third quarter of the current year were $148 million.