International Paper Company (IP) Earnings
International Paper Company is expected to report next earnings on July 30, 2026 (in NaN days), with a consensus EPS estimate of $-0.04. IP has beaten EPS estimates in 5 of its last 12 reported quarters (average surprise -96.4% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 30, 2026 | $0.18 | $0.15 | -16.7% | $6.0B | -0.7% |
| Jan 29, 2026 | $0.28 | $-0.08 | -128.6% | $6.0B | +5.8% |
| Oct 30, 2025 | $0.47 | $-0.43 | -191.8% | $6.2B | -7.5% |
| Jul 31, 2025 | $0.39 | $0.20 | -48.5% | $6.8B | +1.8% |
| Apr 30, 2025 | $0.38 | $0.23 | -39.1% | $5.9B | -6.3% |
| Jan 30, 2025 | $0.03 | $-0.02 | -166.7% | $4.6B | -3.5% |
| Oct 31, 2024 | $0.26 | $0.44 | +69.2% | $4.7B | -0.3% |
| Jul 24, 2024 | $0.40 | $0.55 | +37.5% | $4.7B | +0.8% |
| Apr 25, 2024 | $0.22 | $0.17 | -22.7% | $4.6B | +1.4% |
| Feb 1, 2024 | $0.34 | $0.41 | +20.6% | $4.6B | -1.6% |
| Oct 26, 2023 | $0.58 | $0.64 | +10.3% | $4.6B | -4.0% |
| Jul 27, 2023 | $0.38 | $0.59 | +55.3% | $4.7B | -4.4% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 30, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
• North America: Delivered above market growth for third straight quarter, box shipments exceeded industry by 3%. Mill and box plant productivity improving. Made strategic investments. Need to accelerate mill reliability momentum and improve execution. • EMEA: Made progress on cost-out actions. Market softer than expected. Focus on balancing price volume trade-offs. Footprint optimization ongoing with run rate cost savings increased to over $200 million. • Strategic investments: Aggressively accelerated investment across North America network, including targeted acquisitions, greenfield facilities, etc. Bolt-on acquisition of NORPAC paper mill in Longview, Washington strengthens West Coast footprint. • Separation process: Small core team working on separation planning, on track to complete within 12 - 15 months, expected to retain ~20% ownership stake for 12 - 18 months, EMEA packaging business dual listed on LSE and NYSE.
Guidance
• North America: Expect to deliver $2.35 to $2.5 billion of adjusted EBITDA in 2026. • EMEA: Target $900 million to $1 billion of adjusted EBITDA in 2026. • Enterprise level: Including corporate, expect $3.2 to $3.5 billion of adjusted EBITDA. Free cash flow expected to be approximately $300 to $500 million.
Segment performance
Packaging Solutions North America: First quarter adjusted EBITDA was $477 million. Second quarter outlook for adjusted EBITDA is approximately $380 to $410 million. Full-year 2026 adjusted EBITDA outlook updated to $2.35 to $2.5 billion. Packaging Solutions EMEA: First quarter adjusted EBITDA was $208 million. Second quarter outlook for adjusted EBITDA is approximately $150 to $170 million. Full-year 2026 adjusted EBITDA target updated to $900 million to $1 billion.
Risks & headwinds
• Macro environment uncertainty affecting demand. • Inflationary pressures. • Weather-related disruptions. • Energy price volatility. • Freight cost pressures. • Unplanned costs higher than expected due to transformation activity and external factors. • EMEA conflict in Middle East increasing challenge with more energy exposure.
Analyst Q&A
Q: Mike Roxlin with Truist Securities asked about bridging to 2027 EBITDA of 5 billion.
A: Focus on Lance's bridge from first half to second half, incremental price flow-through, operating cost improvements, market growth and share wins.
Q: Mark Weintraub with Seaport Research Partners asked about reliability showing up.
A: Saw productivity improvements in mill and box plant, need to address ancillary costs like transactional costs, contract costs, etc.
Q: Brian Bergmeier on behalf of Anthony Pitoneri asked about supply-demand outlook in Europe.
A: Demand modestly down, effective hedging strategy in place, fourth quartile assets struggling.
Q: George Staffels with Bank of America asked about cost out and step up in North America.
A: Total cost out to be over a billion, step up in second half driven by price-volume mix, timing of planned maintenance, etc.
Q: Phil Ng with Jefferies asked about supply-demand in marketplace and approach to macro.
A: Modestly short on paper, focus on strategy, holding accountable, trying to give more cushion in macro environment.