Memphis, Tenn. – International Paper today reported third quarter 2019 financial results.

HIGHLIGHTS

• Third quarter net earnings attributable to International Paper of $344 million ($0.87 per diluted share) compared with $292 million ($0.73 per diluted share) in the second quarter of 2019 and $562 million ($1.37 per diluted share) in the third quarter of 2018
• Third quarter adjusted operating earnings* (non-GAAP) of $431 million ($1.09 per diluted share) compared with $460 million ($1.15 per diluted share) in the second quarter of 2019 and $641 million ($1.56 per diluted share) in the third quarter of 2018
• Third quarter cash provided by operations of $882 million and year-to-date of $2.7 billion compared with $2.4 billion year-to-date in the same period of 2018
• Strong operating performance and cost management
• Third quarter debt repayment of $383 million
• Third quarter share repurchases of $74 million, bringing the trailing 12 month total to $685 million

"International Paper delivered another quarter of solid earnings and strong cash generation," said Mark Sutton, Chairman and Chief Executive Officer. "We continue to demonstrate the strength and resilience of our cash engine and our ability to perform well in a challenging global environment. Looking ahead to the fourth quarter, we will continue to maximize performance by optimizing our full value chain from fiber to the customer.