International Paper Reports Second Quarter 2026 Results

International Paper announced results for the quarter ended June 30, 2026.

“Our teams delivered strong second quarter results as execution continued to improve across the company,” said International Paper Chairman and CEO Andy Silvernail. “In North America, we improved mill performance and successfully completed the Riverdale machine conversion, while continuing to grow box volumes and remain on track to outperform the market. In EMEA, we accelerated cost-out actions, advanced transformational investments and continued preparing for the separation as previously communicated.”

Overall net sales reached $6.00 billion with a loss from continuing operations of $12 million. The adjusted EBITDA (non-GAAP) from continuing operations were $587 million. 

Packaging Solutions North America business segment operating profit (loss) in the second quarter of 2026 was $204 million compared with $248 million in the first quarter of 2026. In the second quarter of 2026, net sales increased, reflecting higher sales prices, higher sales volumes, and a favorable mix due to lower export sales. 

Operating costs were slightly improved due to stronger mill performance, additional Ixtac insurance recovery, and the non-repeat of winter storm impacts in the first quarter of 2026. 

These benefits were mostly offset by costs of the Riverdale paper machine conversion and other planned reliability spending. In the second quarter of 2026, several strategic initiatives were completed, including the Riverdale machine conversion and the acquisitions of the NORPAC mill in Longview, Washington, and the Delmarva corrugated packaging facility in Dover, Delaware. 

Packaging Solutions EMEA business segment operating profit (loss) in the second quarter of 2026 was $80 million compared with $51 million in the first quarter of 2026.

Net sales decreased in the second quarter of 2026 compared with the first quarter of 2026, as higher sales prices for paper were more than offset by lower sales volumes in a continued soft market driven by geopolitical uncertainty and consumer sentiment. 

Packaging margins were impacted by higher paper prices not yet realized in box pricing. Planned maintenance outage costs were higher in the second quarter of 2026 compared with the first quarter of 2026. Selling and administrative expenses were higher, driven by planned annual wage increases.

“Looking ahead to the second half of the year, our priorities remain clear: execute with discipline, improve reliability and performance across our network, mitigate rising input costs in a dynamic environment, and deliver commercial and cost-out initiatives,” Silvernail added. “While there is still work to do, we are building momentum across the businesses. The progress we are making gives us confidence in our ability to deliver strong performance through the remainder of 2026 and create sustainable value for our stakeholders.”