Welcome to our dedicated page for International Paper Co. news (Ticker: IP), a resource for investors and traders seeking the latest updates and insights on International Paper Co. stock.
International Paper Co. (NYSE: IP) is a global leader in packaging and paper products, with a strong emphasis on sustainability and innovation. Headquartered in Memphis, Tennessee, the company operates in North America, Europe, Latin America, Russia, Asia, and North Africa, employing approximately 39,000 people across 24 countries.
Core Businesses:
- Industrial Packaging: International Paper manufactures corrugated packaging products that serve a variety of end markets, including industrial, consumer products, and manufacturing. It accounts for roughly one-third of the North American corrugated packaging market.
- Global Cellulose Fibers: The company produces cellulose fibers used in absorbent products like baby diapers, feminine care items, and adult incontinence products. This segment also includes uncoated papers and pulp.
In 2023, International Paper reported net sales of $18.9 billion. Despite facing challenges such as lower demand and cost inflation, the company demonstrated resilience by executing strategic actions to optimize its mill system and invest in future growth. This included the sale of its Ilim joint venture, which provided $508 million in proceeds.
Recent Achievements:
- Successful navigation of challenging market conditions, resulting in $260 million of building a Better IP benefits in 2023.
- Cost reduction efforts across operations and supply chains.
- Returning $839 million to shareholders.
Strategic Initiatives:
In April 2024, International Paper announced a recommended all-share combination with DS Smith Plc, valued at approximately $9.9 billion. This merger aims to create a global leader in sustainable packaging solutions, with significant synergies expected from the integration. The combined company will be headquartered in Memphis, with plans for an EMEA headquarters in London. The transaction is expected to close by the fourth quarter of 2024.
Stewardship Efforts:
International Paper is dedicated to sustainability and community engagement. In partnership with the Arbor Day Foundation, the company planted and distributed over 169,000 trees in 2023. Since 2019, more than 568,000 trees have been planted, restoring over 1,000 acres of forests and communities worldwide.
For more detailed information, visit internationalpaper.com.
International Paper (NYSE: IP) announced its plan to spin off its Printing Papers business, which will be named Sylvamo Corporation. The distribution will occur on October 1, 2021, for shareholders as of September 15, 2021, with a ratio of one Sylvamo share for every 11 International Paper shares held. Sylvamo shares will trade on the NYSE under the symbol "SLVM". The spin-off is intended to be tax-free for U.S. federal income tax purposes, except for fractional shares sold for cash. The transaction remains subject to regulatory approvals and other conditions.
International Paper Company (NYSE: IP) announced that its subsidiary, Sylvamo Corporation, priced $450 million of 7.000% senior unsecured notes due 2029. The offering is set to close on September 3, 2021. The proceeds, combined with anticipated borrowings and cash on hand exceeding $100 million, will be used for a special payment to International Paper ahead of the spin-off. These notes are offered privately, exempt from U.S. Securities Act registration requirements, and are available only to qualified buyers. Forward-looking statements indicate that the completion of the spin-off is still subject to SEC review.
International Paper announced that its subsidiary, Sylvamo Corporation, plans to offer $500 million in senior unsecured notes due 2029. This offering is part of the spin-off of International Paper's printing papers business. The notes will be guaranteed by International Paper before the spin-off's effective date, with proceeds used to make a special payment to International Paper. The offering is private, exempt from registration under the Securities Act, aimed at qualified institutional buyers and non-U.S. persons.
International Paper (NYSE: IP) announced the completion of the sale of its Kwidzyn pulp and paper mill to Mayr-Melnhof Group, as previously disclosed. The Kwidzyn facility, which has about 2,300 employees, boasts an annual production capacity of 740,000 metric tons across various products, including folding boxboard and specialty kraft papers. This strategic divestiture aligns with International Paper's focus on its core operations and enables greater flexibility. The company continues to be a top producer of renewable fiber-based packaging and paper products globally.
International Paper reported solid second quarter 2021 earnings of $432 million ($1.09 per diluted share), up from $349 million in Q1 2021 and $266 million in Q2 2020. Adjusted operating earnings reached $421 million ($1.06 per share), while cash from operations totaled $766 million. The company reduced debt by $796 million and repurchased shares worth $57 million year-to-date. The spin-off of the papers business is expected to complete by October 1. Despite challenges in the supply chain, demand remains strong, and revenue grew to $5.6 billion.
International Paper (NYSE: IP) declared a quarterly dividend of $0.5125 per share for the period from July 1, 2021 to September 30, 2021. This dividend, payable on September 15, 2021, is for shareholders on record by August 16, 2021. Additionally, a regular quarterly dividend of $1.00 per share was announced for its cumulative preferred stock during the same period, also payable on September 15, 2021. International Paper is a leading producer of renewable fiber-based packaging and paper products with net sales of $21 billion in 2020.
International Paper has been recognized as one of the 2021 Best Places to Work in IT by IDG's Insider Pro and Computerworld, marking its twelfth consecutive year on the list. Rankings were based on extensive surveys and a comprehensive questionnaire regarding benefits, career development, and worker satisfaction. With 1,400 IT professionals supporting 48,000 global staff, the company's commitment to excellence during the pandemic was highlighted by VP Bob Wenker. International Paper reported net sales of $21 billion in 2020 and operates in various regions around the globe.
International Paper (NYSE: IP) is set to release its second-quarter earnings on July 29, 2021, before the market opens. A webcast to discuss earnings and market conditions will start at 10 a.m. ET. Interested participants can join via the company’s website or by teleconference. The company, based in Memphis, Tenn., is a leading producer of renewable fiber-based packaging and paper products with net sales of $21 billion in 2020. The event will allow stakeholders to gain insights into the company’s performance and outlook.
On June 21, 2021, International Paper Company (NYSE: IP) announced pricing terms for a cash tender offer to purchase up to $700 million of its outstanding notes. The offer includes four series of notes with varying maturity dates. Holders whose notes are accepted will receive accrued interest and total consideration based on the Reference Yield plus a fixed spread. Due to oversubscription, only specific notes were accepted for purchase, while others were not. The offer is subject to certain conditions and is managed by Deutsche Bank Securities Inc.
International Paper Company (NYSE: IP) announced early results on its cash tender offer, with an aggregate purchase price of up to $700 million for several outstanding notes. As of June 18, 2021, the company received tender offers totaling $410.7 million for 4.400% Notes due 2047, $313.97 million for 4.350% Notes due 2048, $291.01 million for 4.80% Notes due 2044, and $135.855 million for 5.000% Notes due 2035. The early settlement is expected on June 22, 2021, with the expiration date extended to July 6, 2021.
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