International Paper
Makes corrugated packaging, containerboard, displays, and recycling solutions across North America and EMEA.
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Profile
Produces corrugated boxes, containerboard, retail displays, bulk and solid-fiber packaging, and recycling and packaging services across North America, Latin America, Europe, and North Africa. Operates through North American and EMEA packaging segments, with the EMEA business preparing for a planned spin-off.
Produces corrugated packaging, containerboard, retail displays, bulk and solid-fiber packaging, corrugated sheets, recycling solutions, and related design, printing, testing, fulfillment, and assembly services. Customers span industrial, consumer, retail, e-commerce, and fulfillment markets.
Manufacturing and packaging operations run across North America, Latin America, Europe, and North Africa through Packaging Solutions North America and Packaging Solutions EMEA. The network combines paper mills, box plants, design services, and recycling operations, linking results to mill reliability, recovered-fiber, energy and freight costs, and regional box demand.
Following the DS Smith acquisition and the completed sale of Global Cellulose Fibers, management uses a disciplined operating model to simplify products, segment customers, and direct resources. A planned spin-off would separate the EMEA packaging business while International Paper retains North American operations; completion remains subject to corporate and regulatory approvals.
Company facts
Key statistics
Year to date −2.3% · Average volume (30d) 4.7M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 12, 2026 | Seaport Global | Reiterate | Buy | $60 | $46 | |
| Jul 31, 2026 | RBC Capital | Reiterate | Outperform | $48 | $52 | |
| Jul 31, 2026 | UBS | Reiterate | Neutral | $40 | $47 | |
| Jul 31, 2026 | Wells Fargo | Reiterate | Overweight | $42 | $46 | |
| Jul 31, 2026 | Truist Financial | Target | $46 | $49 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 30, 2026Q2 FY26 | −$0.03 | $0.04 | +233.7% | $6.19B | $6.00B | −3.0% | +1.20% |
| Apr 30, 2026Q1 FY26 | $0.18 | $0.15 | −16.7% | $6.02B | $5.97B | −0.7% | +4.40% |
| Jan 29, 2026Q4 FY25 | $0.28 | −$0.08 | −128.6% | $5.91B | $6.01B | +1.6% | +3.38% |
| Oct 30, 2025Q3 FY25 | $0.47 | −$0.43 | −191.8% | $6.73B | $6.22B | −7.5% | +0.03% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $5.90B | $6.77B | $6.22B | $6.01B | $5.97B | $6.00B | |
| Gross profit | $1.64B | $1.89B | $1.94B | $1.88B | $1.24B | $1.66B | |
| Operating income | −$35.0M | $206.0M | −$426.0M | −$2.57B | $174.0M | $45.0M | |
| Net income | −$105.0M | $75.0M | −$1.10B | −$2.38B | $60.0M | −$12.0M | |
| Diluted EPS | −$0.24 | $0.14 | −$2.09 | −$4.52 | $0.11 | −$0.02 | |
| Gross margin | 27.8% | 27.9% | 31.1% | 31.4% | 20.7% | 27.6% | |
| Operating margin | -0.6% | 3.0% | -6.8% | -42.7% | 2.9% | 0.7% |
Fiscal years (4-quarter sums)FY21 $16.95B · FY22 $21.16B · FY23 $18.92B · FY24 $18.62B · FY25 $24.90B
Revenue by product · FY24
Revenue by geography · Q1 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $726.0M · Total debt $9.69B · Total assets $36.52B · Shareholders' equity $14.46B
Dividends
Raised for 3 straight years. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 14, 2026 | Aug 14 | Sep 15 | $0.4625 | |
| May 22, 2026 | May 22 | Jun 12 | $0.4625 | |
| Feb 23, 2026 | Feb 23 | Mar 17 | $0.4625 | |
| Nov 14, 2025 | Nov 14 | Dec 16 | $0.4625 | |
| Aug 15, 2025 | Aug 15 | Sep 16 | $0.4625 | |
| May 23, 2025 | May 23 | Jun 13 | $0.4625 | |
| Feb 24, 2025 | Feb 24 | Mar 17 | $0.4625 | |
| Nov 15, 2024 | Nov 15 | Dec 16 | $0.4625 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 529.52M · Float 520.78M · 98.4% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Capital Research Global Investors | 78.47M | 14.82% | 13F | Aug 12, 2026 |
| BlackRock, Inc. | 50.94M | 9.62% | 13F | Aug 7, 2026 |
| T. Rowe Price Associates, Inc. | 49.21M | 9.30% | 13G | May 15, 2026 |
| Price T Rowe Associates Inc /MD/ | 45.50M | 8.59% | 13F | Aug 14, 2026 |
| Vanguard Capital Management LLC | 34.55M | 6.53% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 7, 2026 | William Thomas Hamic | officer: Exec. VP & President | −24,500 | $41.20 |
| Aug 4, 2026 | Holly G. Goughnour | officer: VP & Chief Accounting Officer | −3,500 | $41.96 |
| May 1, 2026 | Scott Tozier | director | +10,000 | $31.30 |
| Mar 11, 2026 | Anders Gustafsson | director | +12,875 | $38.84 |
| Mar 12, 2026 | Anders Gustafsson | director | +13,217 | $37.83 |
Peers
- Smurfit Westrock
Global corrugated and paperboard peer across North America and EMEA
- Packaging Corporation of America
Direct U.S. containerboard and corrugated-packaging peer
- Graphic Packaging
Consumer paperboard peer in cartons, foodservice, and retail packs
- Sonoco Products
Paperboard and industrial paper-packaging peer at IP's edge markets
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| International Paper | $39.41 | +0.25% | $20.82B | — | 17.0 | 0.9 | −11.3% |
| Smurfit Westrock | $48.20 | −0.21% | $25.33B | 51.4 | 16.3 | 0.8 | +1.7% |
| Packaging Corporation of America | $240.39 | −0.06% | $21.42B | 31.2 | 20.6 | 2.2 | +14.7% |
| Graphic Packaging | $11.58 | +0.22% | $3.42B | 17.5 | 12.4 | 0.4 | −0.7% |
| Sonoco Products | $56.47 | +0.02% | $5.58B | 8.7 | 9.4 | 0.7 | −1.3% |
| Median | 24.4 | 14.4 | 0.8 | +0.5% |