International Paper Reports 3Q 2025 Results

International Paper reports third quarter 2025 earnings (loss) from continuing operations of $(426) million and adjusted operating earnings (loss) (non-GAAP) of $(224) million. Third quarter 2025 earnings (loss) from continuing operations and adjusted operating earnings (loss) (non-GAAP) include $675 million of accelerated depreciation associated with our mill closures and 80/20 strategic actions.

Third quarter 2025 net sales were $6.2 billion and earnings (loss) from continuing operations before income taxes and equity earnings (loss) was $(675) million. Net earnings (loss) was $(1.10) billion in the third quarter of 2025, which includes a loss from discontinued operations, net of taxes of $676 million.

Adjusted EBITDA from continuing operations (non-GAAP) was $859 million. Third quarter 2025 adjusted EBITDA (non-GAAP) was $1.01 billion including $153 million for its Global Cellulose Fibers business which has been classified as a discontinued operation in the current results and all historical periods. 

“Our third quarter results reflect substantial progress on our transformation journey,” says Andy Silvernail, chairman and CEO of International Paper. “We delivered 28% sequential adjusted EBITDA improvement across both Packaging Solutions businesses, driven by price realization, cost management and lower fiber costs. In North America, we saw year-over-year box shipment growth in September, a clear indicator that our customer-centric approach is closing the industry gap. While demand remained soft across both regions, we took decisive actions to reshape our portfolio — exiting non-core businesses, closing facilities, and reinvesting in our most strategic assets.

“Despite near-term headwinds,” Silvernail added, “we remain confident in our trajectory. We are accelerating actions and remain fully committed to executing our transformation plan — delivering commercial excellence, securing an advantaged cost position, and building a differentiated, sustainable global packaging company.”