The company said net earnings were $150 million ($0.42 per diluted share) in Q3 2024, compared with $498 million in Q2 2024 and $165 million in Q3 2023. Adjusted operating earnings, a non-GAAP measure, were $153 million ($0.44 per diluted share) in Q3.

10-QQuarterly reportFiled Nov 1, 2024Period of report Sep 30, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

The company said net earnings were $150 million ($0.42 per diluted share) in Q3 2024, compared with $498 million in Q2 2024 and $165 million in Q3 2023. Adjusted operating earnings, a non-GAAP measure, were $153 million ($0.44 per diluted share) in Q3.
The company said net sales for Q3 2024 decreased by $48 million (1%) from Q2 2024 and increased by $73 million (2%) from Q3 2023. It cited seasonally lower sales volumes as the reason for the decrease and higher sales prices as the reason for the increase.
International Paper said it expects to reduce its workforce by approximately 650 people under the corporate overhead restructuring plan announced on October 15, 2024, and estimates pre-tax costs of approximately $80 million (of which $49 million was recorded in Q3). The company said the pre-tax cost of closing the Georgetown mill is approximately $270 million (including approximately $220 million in noncash accelerated depreciation), which it expects to be recorded in Q4.
The company said cash provided by operations was $1.3 billion for the first 9 months of 2024, the same as for the comparable period of 2023. Investments in capital projects for the same period were $661 million, and the company expects full-year 2024 capital spending of about $800 million to $1.0 billion.

Key figures

Quarter ended September 30, 2024

Revenue: $4.7B
Operating income: $237M
Net income: $150M
EPS: $0.42

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Net Earnings and Adjusted Operating Earnings for Q3 2024

The company said net earnings were $150 million ($0.42 per diluted share) in Q3 2024, compared with $498 million in Q2 2024 and $165 million in Q3 2023. Adjusted operating earnings, a non-GAAP measure, were $153 million ($0.44 per diluted share) in Q3.

Source · Based on the MD&A text of the filing

Net Sales Changes and Company Explanation for Q3

The company said net sales for Q3 2024 decreased by $48 million (1%) from Q2 2024 and increased by $73 million (2%) from Q3 2023. It cited seasonally lower sales volumes as the reason for the decrease and higher sales prices as the reason for the increase.

Source · Based on the MD&A text of the filing

Corporate Overhead Restructuring and Georgetown Mill Closure Costs

International Paper said it expects to reduce its workforce by approximately 650 people under the corporate overhead restructuring plan announced on October 15, 2024, and estimates pre-tax costs of approximately $80 million (of which $49 million was recorded in Q3). The company said the pre-tax cost of closing the Georgetown mill is approximately $270 million (including approximately $220 million in noncash accelerated depreciation), which it expects to be recorded in Q4.

Source · Based on the MD&A text of the filing

Operating Cash Flow and Capital Spending Outlook

The company said cash provided by operations was $1.3 billion for the first 9 months of 2024, the same as for the comparable period of 2023. Investments in capital projects for the same period were $661 million, and the company expects full-year 2024 capital spending of about $800 million to $1.0 billion.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

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