International Paper Co. - IP STOCK NEWS

International Paper (NYSE: IP) Chairman and CEO Mark S. Sutton will present at the Citi 2022 Basic Materials Virtual Conference on November 30, 2022, starting at 8:45 am ET. The event includes a question and answer session, and interested individuals can view the presentation live via International Paper's website. A replay will be available three hours after the live event. International Paper, headquartered in Memphis, Tenn., reported net sales of $19.4 billion in 2021 and employs around 38,000 employees globally.

International Paper reported its third quarter 2022 results, revealing net earnings of $951 million ($2.64 per diluted share), marking an increase from $511 million in Q2 2022. Adjusted operating earnings were $364 million ($1.01 per diluted share), down from $459 million in the previous quarter. The revenue grew 10% year-over-year due to strong price realization, with cash operations at $435 million. Despite macroeconomic challenges and higher costs, the company returned $434 million to shareholders. CEO Mark Sutton highlighted ongoing demand stabilization and a focus on cost reduction initiatives.

Aimee Gregg, Vice President of Containerboard at International Paper, has been appointed to the National Association of Manufacturers (NAM) Board of Directors as of October 12, 2022. This role aims to enhance policy advocacy, workforce solutions, and operational excellence within the manufacturing sector. Gregg expressed her commitment to advocating for the 12.8 million manufacturing workers in the U.S. The NAM represents over 14,000 members, focusing on improving industry competitiveness and addressing economic challenges like supply chain issues and workforce shortages.

International Paper (NYSE: IP) declared a quarterly dividend of $0.4625 per share for common stock, payable on December 15, 2022, to shareholders on record as of November 15, 2022. Additionally, a dividend of $1.00 per share for the cumulative preferred stock is also declared for the same period, with the same payment date. The company's net sales in 2021 were $19.4 billion. International Paper specializes in renewable fiber-based products and operates globally, employing approximately 38,000 colleagues.

International Paper Company (NYSE: IP) announced the pricing terms for a cash tender offer for up to $497.658 million of various outstanding notes. The offer includes notes with rates ranging from 4.350% to 8.700%, with the total consideration based on fixed spreads over the yield of U.S. Treasury securities. Holders of validly tendered notes by the early deadline on September 23, 2022, will receive total consideration plus accrued interest. The early settlement date is expected on September 27, 2022.

International Paper (NYSE: IP) plans to announce its third-quarter earnings on October 27, 2022, prior to the NYSE opening. A webcast discussing the earnings and current market conditions will start at 10:00 a.m. ET. Participants can join via the company's website or by calling in. The company, headquartered in Memphis, Tenn., reported net sales of $19.4 billion for 2021 and is a key player in renewable fiber-based products, manufacturing across North America, Latin America, North Africa, and Europe.

International Paper Company (NYSE: IP) announced early tender results for its cash tender offer, increasing the aggregate maximum amount from $400 million to $497.658 million. As of September 23, 2022, a total of $1.241 billion in principal amount of notes was validly tendered. The offer includes various series of notes due between 2023 and 2048. Due to high demand exceeding the new limit, only notes with acceptance priority levels 1 through 10 will be purchased, with settlement expected on September 27, 2022.

International Paper (NYSE: IP) has initiated a cash tender offer for up to $400 million of its outstanding debt securities, which include various notes due between 2023 and 2048. This announcement, made on September 12, 2022, reveals the company’s focus on managing its debt structure. The offer will expire on October 7, 2022, unless extended, with an early tender deadline set for September 23, 2022. The maximum purchase amount is categorized into 16 different note issues, prioritizing acceptance based on specified conditions.

International Paper (NYSE: IP) reported strong second quarter 2022 results with net earnings of $511 million ($1.38 per diluted share), up from $360 million in Q1 2022 and $432 million in Q2 2021. Adjusted operating earnings reached $459 million ($1.24 per diluted share), compared to $288 million in Q1 2022 and $325 million in Q2 2021. Year-over-year revenue grew 13% to $5,389 million. The company returned $565 million to shareholders, enhancing confidence in its financial stability amid rising input costs and supply chain challenges.