International Paper Reports First Quarter 2026 Results

International Paper announced results for the quarter ended March 31, 2026. Net sales were $5.97 billion. Net sales for Packaging Solutions North America were $3,626 million, while Packaging Solutions EMEA were $2,323 million. Earnings from continuing operations were $76 million, while adjusted EBITDA (non-GAAP) from continuing operations was $677 million.

The company received $1.1 billion of net proceeds from the sale of the Global Cellulose Fibers business and paid down $660 million of debt. Cash provided by operating activities was $611 million. Free cash flow (non-GAAP) was $94 million.

“This quarter, we delivered meaningful progress across the business. In North America, our commercial actions are gaining traction and helping us outgrow the market, while we advance cost-out efforts and make solid gains in mill and box plant productivity. In EMEA, we’re accelerating commercial and cost initiatives while a small core team is focusing on the planned separation,” says Andy Silvernail, International Paper chairman and CEO. “We still have work to do to improve consistency and reliability, but the primary pressures this quarter came from a tougher macro environment, including ongoing inflation and the severe winter storm.

“Looking ahead,” Silvernail adds, “our priorities are clear: execute with discipline, improve reliability and performance across our network and manage capital with rigor. We’re updating our outlook to reflect the volatile environment, with a strong focus on managing cost and cash flow. We remain confident in our strategy, and the planned separation will enable our North America and EMEA businesses to operate independently and deliver stronger performance.”