International Paper Reports 2Q 2025 Results

International Paper reports second quarter 2025 net earnings (loss) of $75 million, or $0.14 per diluted share, and adjusted operating earnings (non-GAAP) of $105 million, or $0.20 per diluted share. Second quarter 2025 net sales were $6.8 billion.

During the second quarter of 2025, International Paper reported $6.767 billion in sales, up from $5.901 billion in Q1 2025 and $4.734 billion in Q2 2024.

Free cash flow was $54 million, compared to a loss of $618 million in Q1 2025 and $167 million in Q2 2024.

“I’m pleased to see our teams gaining momentum as we advance our transformation journey,” says CEO Andy Silvernail. “Our second quarter results reflect a full quarter of our combined International Paper and DS Smith packaging businesses, as we effectively implement 80/20 strategies.

“In Packaging Solutions North America, our commercial efforts are driving increased revenue, and we experienced seasonally higher volumes and a stable demand environment,” Silvernail adds. “However, margins slipped as we continue to face cost headwinds, and we executed a heavy outage schedule.

“In Europe, demand remained soft and there was a significant increase in depreciation and amortization expense resulting from our acquisition. Overall, we have exceeded our expectations on commercial actions and are on target to achieve cost-out actions before the end of year.”

“Looking ahead,” Silvernail added, “we expect stronger global revenue and earnings in the third quarter, with confirmed strategic wins across our packaging businesses, continued progress on cost-out initiatives, and fewer planned maintenance outages.”