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International PaperIP

Legal name
International Paper Company
Sector
Other
Industry
Paper Mills
Exchange
NYSE

Stock Price $IP

Latest filings

You are here#24 of 28 in Materials by market cap

Filing record · 2016–202610-K1110-Q328-K153

IP filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 153 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Mar ’18Mar ’18
  2. Material agreement8-K · Mar ’20Mar ’20
  3. Leadership change8-K · Apr ’22Apr ’22
  4. Impairment8-K · Aug ’25Aug ’25

01—Key figures

Share Class
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  19. $23.63B
YoY changeLargest recent move−24.2%in FY23Latest +49.3%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

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All IP Financial Metrics58 metrics

Income Statement14

Balance Sheet25

Cash Flow14

Per Share5

02—Overview

International Paper Financial Overview 2021–2025

Updated Nov 4, 2026

International Paper booked $23.63 billiona of net sales in FY2025, its biggest top line in the period, yet lost $2.84 billion from continuing operations. That gap is the story. Revenue is now bigger, but the DS Smith deal has not yet turned it into profit, and the $2.47 billion non-cash goodwill impairment on the EMEA unit shows the market-facing price paid.

The long arc is stark. Net sales rose from $19.4 billion in FY2021 to $23.63 billionb in FY2025. Over the same span, net earnings attributable to shareholders went from $1.75 billion ($4.47 per share) to a net loss of $3.52 billion. Along the way, FY2023 earnings fell to $288 million as demand and prices slid, and FY2024 recovered only to $557 million, helped by a $415 million tax benefit.

Operations are improving beneath the damage. Adjusted EBITDA from continuing operations reached $2.98 billionc in FY2025, up from $1.64 billion in FY2024. But cash is tight. Free cash flow was $(159) million as capital spending nearly doubled to $1.86 billion, while the company still paid $977 million in dividends. Total debt climbed to about $9.8 billion from roughly $5.6 billion in each of the prior four years.

At the close of FY2025 (December 30, 2025), shares traded at $39.39d, a market cap of $24.7 billion. With EPS of $(6.95), a P/E ratio is meaningless for that period.

Recent Developments (Q1 and Q2 2026)

Profit faded in the second quarter. Q2 2026 net sales were $6.00 billione, down from $6.14 billion a year earlier, on lower volumes. The company posted a $12 million loss from continuing operations versus $75 million of earnings. Adjusted EBITDA fell to $587 million from $670 million. Q1 2026 was stronger, with $5.97 billion of sales and $76 million of earnings. PS EMEA lost $80 million at the operating level in Q2, wider than $51 million in Q1.

Management closed the $1.1 billion Global Cellulose Fibers sale, cut debt by $501 million in the first half, bought NORPAC for $368 million, and plans an EMEA spin-off. Bull case: Q3 adjusted EBITDA guidance of $780 million to $830 million implies a sharp rebound. Bear case: EMEA losses are widening, and the Pine Hill outage trims $85 million from Q3. At $36.24 as of August 4, 2026, market cap was $22.7 billion. With negative earnings, no P/E applies.

What to watch: EMEA spin-off execution; Pine Hill restart and Q3 EBITDA delivery

03—Filings

Recent SEC Filings

  1. 8-KInternational Paper 8-K Report, Financial Results (Oct 28, 2026)International Paper Company furnished a press release reporting preliminary, unaudited results for the quarter ended September 30, 2026. Net sales were $6.20 billion, and the loss from continuing operations was $1.10 billion, or $(2.07) per diluted share. The loss includes a $1.38 billion non-cash goodwill impairment charge for the Packaging Solutions EMEA business segment. Net special items were a $1.31 billion after-tax charge ($2.46 per diluted share). Excluding special items and non-operating pension income, adjusted operating earnings were $197 million, or $0.37 per diluted share, compared with a loss of $(224) million in the third quarter of 2025. Adjusted EBITDA from continuing operations was $843 million, compared with $859 million a year earlier and $587 million in the second quarter of 2026. Packaging Solutions North America operating profit was $427 million, up from $204 million in the second quarter of 2026 and from a loss of $(166) million in the third quarter of 2025. Management cited higher sales prices, improved mill performance, and a full quarter of earnings from the NORPAC mill acquisition, partly offset by lower sales volumes and higher recovered fiber, energy and fuel costs. Cash provided by operating activities was $339 million and free cash flow was $(267) million, with capital expenditures of $606 million in the quarter. For the nine months, free cash flow was $(180) million. The company is separating its EMEA packaging business into an independent company to be known as DS Smith plc, and will hold a Capital Markets Day in London on November 3, 2026. Because of the planned separation and subsequent U.K. regulatory requirements, International Paper will no longer provide Packaging Solutions EMEA financial guidance. It set fourth-quarter 2026 Packaging Solutions North America operating profit guidance of $460-$500 million and full-year 2026 guidance of $1.3-$1.4 billion, with Adjusted EBITDA guidance of $700-$740 million for the fourth quarter and $2.27-$2.31 billion for the full year. The finalized results are expected in the Form 10-Q on or about November 4, 2026.
  2. 8-KInternational Paper 8-K Report, Exhibit Filing (Oct 8, 2026)International Paper Company filed this Form 8-K on October 8, 2026, under Item 5.02 to update its board composition. As previously reported in a July 17, 2026 Form 8-K, independent directors Katherine Collins and Lori J. Ryerkerk were appointed effective October 1, 2026. On October 8, 2026, the Board, on the Governance Committee's recommendation, assigned Ms. Collins to the Audit and Finance Committee and the Governance Committee, and assigned Ms. Ryerkerk to the Management Development and Compensation Committee and the Safety, Sustainability and Technology Committee. The filing also addresses the planned retirements of Directors Ahmet C. Dorduncu and Kathryn D. Sullivan, who will leave the Board effective December 31, 2026. Through their retirement dates, both will attend Audit and Finance and Safety, Technology and Sustainability committee meetings as invited guests in a non-voting capacity. They will not count as committee members for governance or quorum purposes and will hold no committee voting rights. The filing contains no financial results, and its only exhibit is the inline XBRL cover page (Exhibit 104). For investors, the disclosure is a governance update covering director onboarding, committee assignments and an orderly board transition.
  3. 8-KInternational Paper 8-K Report, Financial Results (Jul 30, 2026)International Paper Company issued a press release on July 30, 2026 reporting preliminary, unaudited results for the fiscal quarter ended June 30, 2026, furnished under Item 2.02 of this Form 8-K. Second quarter net sales were $6.00 billion, compared with $6.14 billion in the second quarter of 2025 and $5.97 billion in the first quarter of 2026. The company reported a loss from continuing operations of $12 million, or $(0.02) per diluted share, versus earnings of $75 million ($0.14) a year earlier. Adjusted EBITDA from continuing operations was $587 million, down from $670 million in the second quarter of 2025 and $677 million in the first quarter of 2026. Adjusted operating earnings were $18 million ($0.04 per share), and free cash flow was $(7) million. By segment, Packaging Solutions North America operating profit was $204 million, compared with $248 million in the first quarter of 2026, with management citing higher planned maintenance outage costs and the Riverdale paper machine conversion, which was completed in the quarter. Packaging Solutions EMEA posted an operating loss of $(80) million, compared with $(51) million in the first quarter, reflecting lower volumes in a soft market and higher planned maintenance costs. Net special items were an after-tax charge of $42 million ($0.08 per diluted share), mainly PS EMEA separation costs. The company also completed the NORPAC mill acquisition in Longview, Washington and the Delmarva corrugated facility acquisition in Dover, Delaware during the quarter. For 2026, International Paper targets full-year adjusted EBITDA from continuing operations of $3.20 to $3.40 billion and third-quarter adjusted EBITDA of $780 to $830 million, which includes an $85 million negative impact from the temporary mill closure in Pine Hill, Alabama. The company states it intends to file its Form 10-Q on August 6, 2026, which will finalize these preliminary results. Management continues to prepare for the planned separation of its EMEA packaging business.
  4. 8-KInternational Paper 8-K Report, Executive Changes (Jul 17, 2026)International Paper's Board of Directors appointed Katherine Collins and Lori J. Ryerkerk as independent directors, effective October 1, 2026. Their terms run until the annual meeting of shareowners in May 2027, when the Board will nominate them for re-election. With these appointments, the Board will have 13 members, 12 of whom are independent. The Board determined that both nominees meet New York Stock Exchange independence requirements and the Board's more rigorous independence standards, and the filing states there are no related party transactions requiring disclosure under Item 404(a) of Regulation S-K. Committee assignments will be made at a later date. The filing also discloses that directors Dr. Kathryn D. Sullivan and Ahmet C. Dorduncu intend to retire from the Board effective December 31, 2026. The filing states that their retirements are not due to any disagreement with the Company on its operations, policies, or practices. The retirements follow amendments to the Corporate Governance Guidelines made in March 2026, which eliminated the mandatory director retirement age of 75, effective December 31, 2026, and adopted a 12-year director term limit. The filing attaches Exhibit 99.1, a press release dated July 17, 2026, announcing the board changes. The release describes Ms. Collins as a former Head of Sustainable Investing at Putnam Investments and Ms. Ryerkerk as former Chairman, President and CEO of Celanese Corporation. Ms. Ryerkerk's compensation as a director will be prorated from October 1, 2026, consistent with the non-employee director program described in the proxy statement filed March 27, 2026.
  5. 8-KInternational Paper 8-K Report, Shareholder Vote Results (May 11, 2026)International Paper held its 2026 annual meeting of shareowners on May 11, 2026, and this Form 8-K reports the voting results under Item 5.07. Holders of 480,640,962 of the 529,486,211 shares of common stock outstanding on the March 12, 2026 record date were present in person or by proxy, which constituted a quorum. The filing does not include financial results, guidance, or other operating information. Shareowners approved all three proposals described in the 2026 Proxy Statement. All 11 director nominees were elected to one-year terms, each receiving more votes "For" than "Against" or "Abstain." Shareowners also ratified Deloitte & Touche LLP as independent auditor for 2026, with 469,081,312 votes for and 11,291,145 against. In a non-binding advisory vote, shareowners approved the compensation of the Named Executive Officers, with 442,112,331 votes for and 11,656,152 against. The results show broad shareowner support for the board slate, the auditor, and executive pay. Each director received 26,216,408 broker non-votes, and the filing's exhibit list includes only the cover page formatted as inline XBRL.
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04—See also

Related Companies

Annual revenue over each company’s last eight fiscal years, each strip on its own scale from zero.