Net sales

International Paper Reports First Quarter 2022 Net Sales of $5.23 Billion

US pulp and paper company International Paper reported net sales of $5.23 billion for the first trimester (Q1) of fiscal year 2022 (FY22).

The figure represents an increase from $4.5 billion in the same period of fiscal 2021 (FY21).

For the three months to March 31, sales in International Paper’s industrial packaging segment reached $4.4 billion.

The company’s global cellulose fiber business posted revenue of $710 million for the quarter, while its corporate and inter-segment sales were $121 million.

International Paper’s first-quarter net profit was $360 million, down from $349 million in the same period a year earlier.

The company’s adjusted operating profit fell from $198 million to $288 million year-over-year, although it said they were not calculated using generally accepted accounting principles (GAAP).

Its earnings per share (EPS) was $0.95, down from $0.88 in Q1 2021.

International Paper Chairman and CEO Mark Sutton said, “International Paper’s first quarter earnings were better than our guidance.

“We generated strong cash from operations and returned $580 million to shareholders, including $406 million from share buybacks.

“Commercially and operationally, we performed well during the quarter to overcome significantly higher input costs.

“As for the second quarter, we expect stable demand at high levels.

“We expect margin expansion as the realization of prior price movements begins to outpace rising costs, and we are pulling out of our highest maintenance outage quarter of the year.”

“We are accelerating value creation through our set of Building a Better IP initiatives and are confident in our annual goal of $200-225 million in incremental revenue.

“In the first quarter, we made $40 million in profit from these stocks.”

In December last year, International Paper won approval from the Science Based Targets Initiative (SBTi) for its carbon reduction target.

The goal is to transition to a low-carbon economy by using fiber-based products and supporting global forest management efforts, among other actions.

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