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International Paper 8-K Report, Financial Results (Oct 28, 2026)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed October 28, 2026
Period End
October 28, 2026
Securities
IPINPAP
In the 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—Abstract

Summary

Summary of the 8-K filed October 28, 2026. Cited figures are marked; the original filing is the authoritative source.

International Paper Company furnished a press release reporting preliminary, unaudited results for the quarter ended September 30, 2026.

Net sales were $6.20 billiona, 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 millionb, 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 millionc 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 $460d-$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.

02—Key points

Key Highlights

  1. Net sales of $6.20 billion for the third quarter of 2026, compared with $6.22 billion in the third quarter of 2025 and $6.00 billion in the second quarter of 2026.
  2. Loss from continuing operations of $1.10 billion, including a $1.38 billion non-cash goodwill impairment charge for the Packaging Solutions EMEA segment; diluted loss per share from continuing operations was $(2.07).
  3. Adjusted operating earnings of $197 million, or $0.37 per diluted share, versus a loss of $(224) million in the prior-year quarter; adjusted EBITDA from continuing operations was $843 million.
  4. Packaging Solutions North America operating profit of $427 million, up from $204 million in the second quarter of 2026, driven by higher sales prices and improved mill performance.
  5. Cash provided by operating activities of $339 million and free cash flow of $(267) million for the quarter; nine-month free cash flow was $(180) million.
  6. No longer providing Packaging Solutions EMEA guidance; fourth-quarter 2026 Packaging Solutions North America operating profit guidance is $460-$500 million, and full-year guidance is $1.3-$1.4 billion.
  7. Planned separation of the EMEA packaging business into DS Smith plc, with a Capital Markets Day in London on November 3, 2026.

03—Questions

Frequently Asked Questions

  1. Why was the third-quarter loss so large?

    The loss from continuing operations of $1.10 billion was driven primarily by a $1.38 billion non-cash goodwill impairment charge for the Packaging Solutions EMEA business segment, recorded as of September 30, 2026. Net special items totaled a $1.31 billion after-tax charge.

  2. How did the core business perform excluding special items?

    Adjusted operating earnings were $197 million, or $0.37 per diluted share, compared with $18 million in the second quarter of 2026 and a loss of $(224) million in the third quarter of 2025. Adjusted EBITDA from continuing operations was $843 million, versus $859 million a year earlier.

  3. What drove the improvement in Packaging Solutions North America?

    Operating profit rose to $427 million from $204 million in the second quarter. The filing cites higher sales prices and improved mill performance, including the non-repeat of the Riverdale paper machine conversion, partly offset by lower sales volumes, higher recovered fiber, energy and fuel costs, and higher freight costs. A full quarter of NORPAC mill earnings was also included.

  4. What is the company's cash generation outlook?

    Free cash flow was $(267) million in the third quarter, reflecting operating cash flow of $339 million and capital expenditures of $606 million. The nine-month free cash flow was $(180) million. The filing does not provide a separate free cash flow forecast.

  5. What changes are coming with the EMEA separation?

    International Paper is separating its EMEA packaging business into an independent company, DS Smith plc. Because of the separation and subsequent U.K. regulatory requirements, the company will no longer provide Packaging Solutions EMEA guidance. The EMEA leadership team will hold a Capital Markets Day in London on November 3, 2026.

04—Continue

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