Solid Results Driven by Continued Strong Performance in North American Industrial Packaging

MEMPHIS, Tenn. - International Paper (NYSE: IP) today reported third quarter 2015 net earnings attributable to common shareholders of $220 million ($0.53 per share) compared with net earnings of $227 million ($0.54 per share) in the second quarter of 2015 and $355 million ($0.83 per share) in the third quarter of 2014. Operating Earnings were $407 million ($0.97 per share) in the third quarter of 2015, compared with $409 million ($0.97 per share) in the second quarter of 2015 and $409 million ($0.95 per share) in the third quarter of 2014. Net earnings in all periods include the impact of special items, if any, non-operating pension expense and discontinued operations. 

Quarterly net sales were $5.7 billion in the third quarter of 2015 compared with $5.7 billion in the second quarter of 2015 and $6.1 billion in the third quarter of 2014. Revenues continue to be negatively impacted by foreign exchange translation.

Business segment operating profits before special items in the third quarter of 2015 were $773 million, compared with $663 million in the second quarter of 2015 and $840 million in the third quarter of 2014.

Free cash flow was $512 million in the third quarter. Cash from operations was $837 million.

"International Paper delivered another strong performance in the third quarter, highlighted by 25% EBITDA margins in our North American Industrial Packaging business and excellent operating results from our Ilim Joint Venture," said Mark Sutton, Chairman and Chief Executive Officer. "We remain confident in our ability to continue to deliver consistent, robust free cash flow and create long-term shareholder value, despite a global macro environment that remains challenged."

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