04.29.22
International Paper reported first quarter 2022 financial results. The company reported 14% year-over-year revenue growth and first quarter cash provided by operations of $588 million.
Net sales in the first quarter of 2002 were $5,237 million, up from $5,086 million in 2021. Busi-ness segment operating profit was $348 million, down from $415 million in 1Q 2021.
"International Paper's earnings in the first quarter were better than our outlook. We generated strong cash from operations and returned $580 million to shareowners, including $406 million of share repurchases," said Mark Sutton, chairman and CEO. "Commercially and operationally, we performed well in the quarter to overcome significantly higher input costs.
“Looking ahead to the second quarter, we anticipate stable demand at elevated levels,” Sutton noted. “We expect margin expansion as realization of prior price movements begins to outpace higher costs, and we step down from our highest maintenance outage quarter of the year."
Net sales in the first quarter of 2002 were $5,237 million, up from $5,086 million in 2021. Busi-ness segment operating profit was $348 million, down from $415 million in 1Q 2021.
"International Paper's earnings in the first quarter were better than our outlook. We generated strong cash from operations and returned $580 million to shareowners, including $406 million of share repurchases," said Mark Sutton, chairman and CEO. "Commercially and operationally, we performed well in the quarter to overcome significantly higher input costs.
“Looking ahead to the second quarter, we anticipate stable demand at elevated levels,” Sutton noted. “We expect margin expansion as realization of prior price movements begins to outpace higher costs, and we step down from our highest maintenance outage quarter of the year."