04.27.18
International Paper reported first quarter 2018 net earnings attributable to International Paper of $729 million ($1.74 per diluted share) compared with $1.5 billion ($3.50 per diluted share) in the fourth quarter of 2017 and net earnings of $209 million ($0.50 per diluted share) in the first quarter of 2017.
Quarterly net sales were $5.6 billion in the first quarter 2018 compared with $5.7 billion in the fourth quarter of 2017 and $5.1 billion in the first quarter of 2017.
Business segment operating profits were $512 million in the first quarter of 2018 compared with $824 million in the fourth quarter of 2017 and $414 million in the first quarter of 2017. Cash provided by (used for) operations was $663 million in the first quarter of 2018 and $633 million in the first quarter of 2017. Free cash flow (non-GAAP) was $174 million for the first quarter of 2018 and $259 million in the first quarter of 2017.
“International Paper delivered a solid first quarter and strong year-over-year earnings growth, as we continue to see healthy global demand and solid fundamentals across our global businesses,” said Mark Sutton, chairman and CEO. “Operationally, we executed well in a heavy outage quarter and managed through weather related disruptions, distribution challenges and other unusual events. Looking forward, we are confident in our outlook of strong earnings growth in 2018.”
Quarterly net sales were $5.6 billion in the first quarter 2018 compared with $5.7 billion in the fourth quarter of 2017 and $5.1 billion in the first quarter of 2017.
Business segment operating profits were $512 million in the first quarter of 2018 compared with $824 million in the fourth quarter of 2017 and $414 million in the first quarter of 2017. Cash provided by (used for) operations was $663 million in the first quarter of 2018 and $633 million in the first quarter of 2017. Free cash flow (non-GAAP) was $174 million for the first quarter of 2018 and $259 million in the first quarter of 2017.
“International Paper delivered a solid first quarter and strong year-over-year earnings growth, as we continue to see healthy global demand and solid fundamentals across our global businesses,” said Mark Sutton, chairman and CEO. “Operationally, we executed well in a heavy outage quarter and managed through weather related disruptions, distribution challenges and other unusual events. Looking forward, we are confident in our outlook of strong earnings growth in 2018.”