International paper announces net sales of $5,237 million in Q1 2022, compared to $4,593 million in Q1 2021. Net income (loss) of $360 million ($0.95 per diluted share) compared to $107 million ($0.28 per diluted share) in Q4 2021 and $349 million ($0.88 per diluted share) in 1Q 2021. 1Q adjusted operating income (non-GAAP) of $288 million ($0.76 per diluted share) compared to $301 million ($0.78 per diluted share) in 4Q 2021 and $198 million ($0.50 per diluted share) in 1Q 2021.
“International Paper’s first quarter earnings were above our expectations. We generated strong cash from operations and returned $580 million to shareholders, including $406 million from share buybacks,” said Mark Sutton, Chairman and CEO. “Commercially and operationally, we performed well in the quarter to overcome significantly higher input costs. Looking ahead to 2Q, we expect stable demand at high levels. We expect margin expansion as the realization of prior price movements is beginning to outpace higher costs, and we are moving down from our highest maintenance outage quarter of the year.”
Sutton added, “We are accelerating value creation through our set of Building a Better IP initiatives and are confident in our annual target of $200-225 million in incremental revenue. In the first quarter, we made $40 million in revenue from these actions.
International Paper is one of the world’s leading suppliers of renewable fiber products.