International Paper Reports First Quarter 2018 Earnings

International Paper reported first quarter 2018 net earnings attributable
to International Paper of $729 million ($1.74 per diluted share) compared with $1.5 billion ($3.50 per diluted share) in the fourth quarter of 2017 and net earnings of $209 million ($0.50 per diluted share) in the first quarter of 2017. Net earnings in all periods include the impact of special items, if any, non-operating pension expense and discontinued operations.

Adjusted operating earnings in the first quarter of 2018 were $395 million ($0.94 per diluted share) compared with $530 million ($1.27 per diluted share) in the fourth quarter of 2017, and $232 million ($0.56 per diluted share) in the first quarter of 2017.
Quarterly net sales were $5.6 billion in the first quarter 2018 compared with $5.7 billion in the fourth quarter of 2017 and $5.1 billion in the first quarter of 2017.
Business segment operating profits were $512 million in the first quarter of 2018 compared with $824 million in the fourth quarter of 2017 and $414 million in the first quarter of 2017.
Cash provided by (used for) operations was $663 million in the first quarter of 2018 and $633 million in the first quarter of 2017. Free cash flow (non-GAAP) was $174 million for the first quarter of 2018 and $259 million in the first quarter of 2017.