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International Paper Reports Full-Year and Fourth Quarter 2024 Results
IPInternational Paper(IP) Prnewswire·2025-01-30 12:30

Core Insights - International Paper reported full-year 2024 net earnings of 557million,or557 million, or 1.57 per diluted share, with adjusted operating earnings of 400million,or400 million, or 1.13 per diluted share, compared to 18.6billioninnetsalesfor2024,downfrom18.6 billion in net sales for 2024, down from 18.9 billion in 2023 [1][15] - The fourth quarter of 2024 saw a net loss of 147million,or147 million, or 0.42 per diluted share, with adjusted operating loss of 7million,or7 million, or 0.02 per diluted share, and net sales of 4.6billion,consistentwiththesamequarterin2023[1][5]FinancialPerformance−Full−yearnetsaleswere4.6 billion, consistent with the same quarter in 2023 [1][5] Financial Performance - Full-year net sales were 18.6 billion in 2024, a decrease from 18.9billionin2023[1]−Fourthquarternetsaleswere18.9 billion in 2023 [1] - Fourth quarter net sales were 4.6 billion in both 2024 and 2023 [1][5] - The company incurred a pre-tax charge of 395millionforaccelerateddepreciationandrestructuringcharges,including395 million for accelerated depreciation and restructuring charges, including 334 million related to the closure of the Georgetown, S.C. pulp mill [2] Business Strategy - The company initiated a strategy for profitable growth as a low-cost, reliable, and innovative sustainable packaging solutions provider, focusing on restructuring and reducing costs [3] - Plans for 2025 include further cost reductions and balancing capacity with demand, alongside optimizing and investing in the box plant system [3] Segment Performance - In the fourth quarter of 2024, the Industrial Packaging segment reported net sales of 3.869billion,whiletheGlobalCelluloseFiberssegmentreported3.869 billion, while the Global Cellulose Fibers segment reported 662 million [9] - The Industrial Packaging segment's operating profit was 247million,animprovementfromalossof247 million, an improvement from a loss of 32 million in the previous quarter [9][10] - The Global Cellulose Fibers segment experienced an operating loss of 250million,significantlyimpactedbylowersalespricesandvolumes[10]SpecialItemsandAdjustments−Netspecialitemsinthefourthquarterof2024amountedtoanetafter−taxchargeof250 million, significantly impacted by lower sales prices and volumes [10] Special Items and Adjustments - Net special items in the fourth quarter of 2024 amounted to a net after-tax charge of 146 million, compared to 12millioninthethirdquarterof2024[11]−Adjustedoperatingearningsforthefourthquarterof2024werealossof12 million in the third quarter of 2024 [11] - Adjusted operating earnings for the fourth quarter of 2024 were a loss of 7 million, while the full-year adjusted operating earnings were 400million[23]CashFlowandLiquidity−Cashprovidedbyoperationsforthefullyearwas400 million [23] Cash Flow and Liquidity - Cash provided by operations for the full year was 1.678 billion, down from 1.833billionin2023[29]−Freecashflowfor2024was1.833 billion in 2023 [29] - Free cash flow for 2024 was 757 million, an increase from $692 million in 2023 [33]