International Paper Reports 1Q 2021 Results

International Paper reported first quarter 2021 financial results, with sales holding steady year over year at $5.363 billion and free cash flow of $423 million.

First quarter net earnings (loss) attributable to International Paper was $349 million ($0.88 per diluted share), compared with $153 million ($0.39 per diluted share) in the fourth quarter of 2020 and $141) million ($0.36) per diluted share) in the first quarter of 2020.

First quarter cash provided by operations was $512 million compared with $649 million in the same period of 2020.

“International Paper delivered solid earnings and strong cash generation in the first quarter,” said Mark Sutton, chairman and CEO. “Operationally, we performed well to mitigate the significant impact of the winter storm and support strong customer demand in our packaging business. Looking ahead, we see momentum continuing to build in our three businesses. We expect continued strong demand for corrugated packaging and absorbent pulp, and we’re seeing a much better supply/demand backdrop for printing papers, all of which contributes to a more favorable outlook in 2021.”