International Paper reported 3Q 2018 net earnings of $562 million ($1.37 per diluted share) compared with $405 million ($0.97 per diluted share) in the 2Q 2018 and net earnings of $395 million ($0.95 per diluted share) in the 3Q 2017. Net sales were $5.9 billion in the 3Q 2018 compared with $5.8 billion in the 2Q 2018 and $5.5 billion in the 3Q 2017.
Adjusted operating earnings in the 3Q 2018 were $641 million ($1.56 per diluted share) compared with $498 million ($1.19 per diluted share) in the 2Q 2018, and $420 million ($1.01 per diluted share) in the 3Q 2017.
Business segment operating profits were $738 million in the 3Q 2018 compared with $697 million in the 2Q 2018 and $674 million in the 3Q 2017.
“International Paper delivered very strong performance and significant year-over-year earnings growth in the 3Q,” said Mark Sutton, Chairman and CEO. “We had solid commercial performance and continued momentum across the businesses, and we continue to work aggressively to offset higher distribution and input costs. I’m proud of the outstanding work to safely prepare, secure and restart the facilities affected by Hurricane Florence. Looking ahead to the fourth quarter, we see continued healthy demand for our products and remain confident in our commitment to deliver strong full-year earnings growth in 2018.”
International Paper is a leading global producer of renewable fiber-based packaging, pulp and paper products with manufacturing operations in North America, Latin America, Europe, North Africa, Russia and India.