International Paper reports 1Q 2022 net sales of $5,237 million, compared to $ 4,593 million in the 1Q 2021. Net earnings (loss) of $360 million ($0.95 per diluted share) compared with $107 million ($0.28 per diluted share) in the 4Q 2021 and $349 million ($0.88 per diluted share) in the 1Q 2021. 1Q adjusted operating earnings (non-GAAP) of $288 million ($0.76 per diluted share) compared with $301 million ($0.78 per diluted share) in the 4Q 2021 and $198 million ($0.50 per diluted share) in the 1Q 2021.
"International Paper's earnings in the 1Q 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 2Q, we anticipate stable demand at elevated levels. 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."
Sutton added, "We are accelerating value creation through our Building a Better IP set of initiatives and are confident in our full-year target of $200 to $225 million of incremental earnings. In the 1Q we achieved $40 million of earnings through these actions."
International Paper is a leading global supplier of renewable fiber-based products.
