01.31.23
International Paper reported full-year and fourth quarter 2022 financial results.
The company reported that 2022 full year sales were $21.161 billion, up from $19.36 billion in 2021, or 9% full-year revenue growth. Full-year net earnings (loss) attributable to International Paper was $1.5 billion ($4.10 per diluted share) compared with $1.8 billion ($4.47 per diluted share) for full-year 2021.
Full-year 2022 adjusted operating earnings (non-GAAP) was $1.2 billion ($3.18 per diluted share) compared with $944 million ($2.41 per diluted share) for full-year 2021. Full-year 2022 cash from operations was $2.2 billion.
"In 2022, International Paper grew revenue and earnings in a dynamic and challenging macro environment and returned $1.9 billion to our shareowners," said Mark Sutton, chairman and CEO. "Our commercial and mill operational performance was solid, while significant inflation and lower demand impacted margins. We also delivered $250 million of earnings benefits from our Building a Better IP initiatives, exceeding our target for the year and building solid momentum going forward.
“As we enter 2023, International Paper is well-positioned to navigate various economic environments from a position of strength, given our strategic customer relationships, our highly talented teams, our track record of solid cash generation and our strong balance sheet,” added Sutton. “We also remain focused on creating value for all our stakeholders as we continue Building a Better IP."
The company reported that 2022 full year sales were $21.161 billion, up from $19.36 billion in 2021, or 9% full-year revenue growth. Full-year net earnings (loss) attributable to International Paper was $1.5 billion ($4.10 per diluted share) compared with $1.8 billion ($4.47 per diluted share) for full-year 2021.
Full-year 2022 adjusted operating earnings (non-GAAP) was $1.2 billion ($3.18 per diluted share) compared with $944 million ($2.41 per diluted share) for full-year 2021. Full-year 2022 cash from operations was $2.2 billion.
"In 2022, International Paper grew revenue and earnings in a dynamic and challenging macro environment and returned $1.9 billion to our shareowners," said Mark Sutton, chairman and CEO. "Our commercial and mill operational performance was solid, while significant inflation and lower demand impacted margins. We also delivered $250 million of earnings benefits from our Building a Better IP initiatives, exceeding our target for the year and building solid momentum going forward.
“As we enter 2023, International Paper is well-positioned to navigate various economic environments from a position of strength, given our strategic customer relationships, our highly talented teams, our track record of solid cash generation and our strong balance sheet,” added Sutton. “We also remain focused on creating value for all our stakeholders as we continue Building a Better IP."