07.25.19
International Paper reported second quarter 2019 financial results.
Second quarter net earnings attributable to International Paper of $292 million ($0.73 per diluted share) compared with $424 million ($1.05 per diluted share) in the first quarter of 2019 and $405 million ($0.97 per diluted share) in the second quarter of 2018.
Second quarter cash provided by operations was $1.1 billion and year-to-date of $1.8 billion, compared with $1.5 billion year-to-date in the same period of 2018.
For the second quarter of 2019, net sales were $5.667 billion, down slightly from $5.833 billion in 2018. Net earnings were $292 million, million, a decline form $405 million in 2018. Free cash flow was $732 million, up dramatically from $361 million in 2Q 2018.
For the first half of 2019, net sales were $11.21 billion, fairly stable from $11.454 billion in 1H 2018.
“International Paper delivered solid earnings and generated strong cash from operations in the second quarter,” said Mark Sutton, chairman and CEO. “We continued to operate well and manage costs across our businesses. We also returned nearly $430 million to shareholders through dividends and share repurchases. Looking ahead to the third quarter, we will leverage the strength and flexibility of International Paper to maximize performance as we manage through a challenging environment.”
Second quarter net earnings attributable to International Paper of $292 million ($0.73 per diluted share) compared with $424 million ($1.05 per diluted share) in the first quarter of 2019 and $405 million ($0.97 per diluted share) in the second quarter of 2018.
Second quarter cash provided by operations was $1.1 billion and year-to-date of $1.8 billion, compared with $1.5 billion year-to-date in the same period of 2018.
For the second quarter of 2019, net sales were $5.667 billion, down slightly from $5.833 billion in 2018. Net earnings were $292 million, million, a decline form $405 million in 2018. Free cash flow was $732 million, up dramatically from $361 million in 2Q 2018.
For the first half of 2019, net sales were $11.21 billion, fairly stable from $11.454 billion in 1H 2018.
“International Paper delivered solid earnings and generated strong cash from operations in the second quarter,” said Mark Sutton, chairman and CEO. “We continued to operate well and manage costs across our businesses. We also returned nearly $430 million to shareholders through dividends and share repurchases. Looking ahead to the third quarter, we will leverage the strength and flexibility of International Paper to maximize performance as we manage through a challenging environment.”