International Paper Reports Third Quarter 2021 Results

HIGHLIGHTS:
*Third quarter net earnings (loss) attributable to International Paper of $864 million ($2.20 per diluted share), compared with $432 million ($1.09 per diluted share) in the second quarter of 2021 and $204 million ($0.52 per diluted share) in the third quarter of 2020. Third quarter 2021 net earnings include a net after-tax gain of $350 million ($0.89 per diluted share) on the sale of our Kwidzyn, Poland mill.
*Third quarter adjusted operating earnings* (non-GAAP) of $532 million ($1.35 per diluted share) compared with $421 million ($1.06 per diluted share) in the second quarter of 2021 and $280 million ($0.71 per diluted share) in the third quarter of 2020
*Third quarter cash provided by operations of $645 million and year-to-date of $1.9 billion compared with $2.3 billion year-to-date in the same period of 2020. Third quarter 2021 cash generation also includes pre-tax sources of $737 million (net of cash divested) related to the sale of the Kwidzyn, Poland mill and $630 million related to the unwind of timber monetization notes.
*Ilim equity earnings of $95 million, bringing year-to-date to $245 million
*Debt reduction of $235 million, bringing year-to-date to $1.1 billion
*Share repurchases of $212 million, bringing year-to-date to $398 million

“In the third quarter, International Paper grew revenue, earnings and margins despite significant input cost and supply chain challenges, and continued to generate strong cash from operations,” said Mark Sutton, Chairman and Chief Executive Officer. “Widespread supply chain constraints impacted our ability to capture the full opportunity that comes with the strong level of demand we’re seeing. Input costs also rose far more than we anticipated and we expect this inflationary environment to continue for the foreseeable future.”

Sutton added, “Looking ahead, we expect strong seasonal demand for corrugated packaging in the fourth quarter, with additional margin expansion from previous price increases.”
details at: https://internationalpaper2015.q4web.com/news-releases/press-r/2021/International-Paper-Reports-Third-Quarter-2021-Results/default.aspx

Related Posts

Silgan Completes Acquisition of Weener Packaging

Silgan Holdings Inc. announced that it has completed its acquisition of Weener Plastics Holdings B.V., a leading producer of differentiated dispensing solutions for personal care, food and healthcare products. Weener operates a global network of 19 facilities predominantly in Europe and the Americas, with approximately 4,000 employees and proprietary manufacturing technologies including significant clean room capabilities. The Company funded the purchase price for this acquisition and related costs and expenses through term and revolving loan borrowings under its senior secured credit facility, including a €700 million incremental term loan. Silgan expects to realize operational cost synergies related to the acquisition of approximately €20 million within 18 months. The transaction is expected to be slightly accretive to adjusted earnings per share in 2024, with approximately 10% accretion once fully integrated and with synergies achieved. Silgan is a leading supplier of sustainable rigid packaging solutions for the world's essential consumer goods products with annual net sales of approximately $6.0 billion in 2023. Silgan operates 124 manufacturing facilities in North and South America, Europe and Asia.

Sustainable and High-End? It’s Possible! Koehler Paper teams up with Mühle-Glashütte

The “sustainable watch packaging” project between the two independent, family-owned companies Koehler Paper and Mühle-Glashütte focuses on developing high-quality yet sustainable packaging for a luxury watch — two characteristics that it has previously been difficult to combine in communication with customers. Koehler Paper came up with the idea of producing environmentally friendly, luxury packaging made from 100% recycled paper and designed to contain a high-quality watch. Family company Mühle-Glashütte, known for its nautical instruments and high-quality mechanical wristwatches, was taken on as a collaboration partner. Sustainability and recyclability are the main requirements for the packaging that Koehler developed together with Mühle-Glashütte and other project participants. Thilo Mühle, Managing Director at Mühle-Glashütte, stresses: “The collaboration project with Koehler Paper makes it clear that luxury no longer needs to be a guilty pleasure. What’s more, the craftsmanship of two family companies steeped in tradition is brought together here. This is reflected in the results.”

DS Smith supports L’Oréal to optimize their E-commerce packaging

E-commerce is booming and this year several sources predict records for the Christmas online shopping. A recent research commissioned by DS Smith reveals that extra 224 million of us will be purchasing our Christmas presents online this year, resulting in 350 thousand tonnes of unnecessary packaging. This could incur in real environmental, reputational and business risks for brands, which is why it is important for brands and retailers to optimize the packaging. At DS Smith, sustainability sits at the heart of our business model and is core to our Purpose of Redefining Packaging for a Changing World. And for that we aim to provide the best service to our customers thinking about the impact on the environment and future generations. L’Oréal shares those views too, and few months ago, we were approached by their team with the challenge of redesigning the E-commerce packaging for their luxury products range.
Back To Top
×Close search
Search