International Paper has reported its first quarter 2019 financial results.
First quarter net earnings were $424m compared with $316m in the fourth quarter of 2018 and $729m in the first quarter of 2018. First quarter adjusted operating earnings of $447m compared with $670m in the fourth quarter of 2018 and $395m in the first quarter of 2018.
“International Paper delivered solid earnings and generated strong cash from operations in the first quarter,” said Mark Sutton, Chairman and Chief Executive Officer. “Operational performance was strong; we managed costs well and leveraged the strength and flexibility of our manufacturing system. In the first quarter, we also returned nearly $400m to shareholders through dividends and share repurchases. Looking ahead to the second quarter, we anticipate improved seasonal demand and we are well positioned to continue generating strong cash flows in 2019.”
