MEMPHIS, Tenn., April 25, 2019 -- International Paper (NYSE: IP) today reported first quarter 2019 financial results.
- First quarter net earnings attributable to International Paper of $424 million ($1.05 per diluted share) compared with $316 million ($0.78 per diluted share) in the fourth quarter of 2018 and $729 million ($1.74 per diluted share) in the first quarter of 2018
- First quarter adjusted operating earnings* (non-GAAP) of $447 million ($1.11 per diluted share) compared with $670 million ($1.65 per diluted share) in the fourth quarter of 2018 and $395 million ($0.94 per diluted share) in the first quarter of 2018
- First quarter equity earnings of $114 million compared with $95 million in the first quarter of 2018
- First quarter share repurchases of $180 million, bringing the trailing 12 month total to $880 million
"International Paper delivered solid earnings and generated strong cash from operations in the first quarter," said Mark Sutton, Chairman and Chief Executive Officer. "Operational performance was strong; we managed costs well and leveraged the strength and flexibility of our manufacturing system. In the first quarter, we also returned nearly $400 million to shareholders through dividends and share repurchases. Looking ahead to the second quarter, we anticipate improved seasonal demand and we are well positioned to continue generating strong cash flows in 2019."
Source: International Paper