Welcome to our dedicated page for International Paper news (Ticker: IP), a resource for investors and traders seeking the latest updates and insights on International Paper stock.
International Paper reports developments in corrugated packaging, with operating updates centered on Packaging Solutions North America and Packaging Solutions EMEA. News releases cover quarterly and annual results, sales volumes, pricing, packaging margins, planned maintenance, cash flow, and non-GAAP measures such as adjusted EBITDA and free cash flow.
Company updates also address its completed acquisition of DS Smith, the completed sale of the Global Cellulose Fibers business, debt reduction, manufacturing footprint decisions, customer service capabilities, and executive presentations on market conditions. The coverage reflects a packaging company whose disclosures emphasize containerboard and box-plant operations, EMEA integration, capital allocation, and restructuring charges.
On January 24, 2023, International Paper (NYSE: IP) announced the sale of its 50% stake in Ilim SA joint venture for $484 million, pending regulatory approval in Russia. This transaction reflects a total enterprise value of approximately $3.5 billion, based on a 3.1X EBITDA multiple on 2022 results. The company also intends to sell a 2.39% stake in JSC Ilim Group for $24 million. The unaudited 2022 EBITDA for Ilim stood at $1.11 billion, with net debt at $2.45 billion. Further details will be released as they become available.
International Paper is responding to significant damage caused by recent storms in Alabama, particularly affecting its Prattville and Riverdale Containerboard Mills. Over 50 employees at the Riverdale Mill reported varying degrees of home damage. The company is providing essential disaster relief such as tarps, water, and hygiene kits. Additionally, International Paper is donating $100,000 to aid disaster relief efforts, supporting both its employees and local organizations like the United Way. This initiative underscores the company’s commitment to its workforce and community, reflecting its values during challenging times.
International Paper (NYSE:IP) plans to invest approximately $103 million to construct two natural gas power boilers for its Containerboard Mill in Cedar Rapids, Iowa. Construction will commence in Q2 2023 and is expected to be operational by the end of 2025. This initiative will create seven new permanent positions, with an additional 100 construction jobs during the project. The new boilers will lead to a 25% reduction in emissions by replacing coal-based generators, aligning with IP's Vision 2030 goal of a 35% reduction in greenhouse gas emissions. The investment underscores IP's commitment to the Cedar Rapids community and its Industrial Packaging business.
International Paper announced its commitment to reduce water usage by 25% by 2030, emphasizing the importance of water conservation in its manufacturing process. The company conducts comprehensive assessments of watersheds to identify local water issues and improve water management practices. Initial results show a 2% reduction in water use intensity from 2019. Collaborative efforts with industry associations and ongoing partnerships with the World Resources Institute are part of their strategy to enhance water stewardship. The company aims to develop context-based water management plans for its mills and prioritize water-related operational improvements.
International Paper collaborates with the American Bird Conservancy to support the conservation of the Swallow-tailed Kite. Initiated in 2020, this partnership provides management recommendations to private forest landowners for maintaining habitats crucial for at-risk bird species. The project includes tracking three Swallow-tailed Kites using GPS transmitters to analyze their habitats for nesting and foraging. These insights will enhance sustainable forest management practices, benefiting various wildlife species. The data also informs harvest plans via ForsiteTM, International Paper's mapping app aimed at responsible fiber procurement.
Summary not available.
International Paper (NYSE: IP) has declared a quarterly dividend of $0.4625 per share for the period from January 1, 2023 to March 31, 2023. This dividend is payable on March 15, 2023, to holders of record on February 17, 2023. Additionally, a dividend of $1.00 per share for its cumulative preferred stock has also been announced for the same period, with the same payment and record dates. The company continues to operate as a leading supplier in renewable fiber-based products, with net sales of $19.4 billion in 2021.
International Paper has partnered with Operation Warm to donate coats, books, and literacy materials to students at Winridge Elementary. The event took place on November 30th, highlighting IP's commitment to community engagement and support for children in need. Operation Warm has provided over 4 million coats across North America since its founding in 1998. International Paper, a global leader in renewable fiber-based products, reported net sales of $19.4 billion in 2021 and employs around 38,000 people globally.
International Paper has received the 2022 AF&PA Sustainability Award for its efforts to combat period poverty through employee volunteer initiatives. In 2021, 13 facilities provided nearly 5,000 period care kits, while this year aims to distribute five times that amount with the support of 45 facilities globally. The company emphasizes its commitment to diversity, equity, and inclusion, along with a focus on community giving. International Paper operates worldwide, generating net sales of $19.4 billion in 2021.
International Paper (NYSE: IP) announced leadership changes including the retirement of Greg Wanta, senior VP of North American Container, after 31 years. Tom Hamic takes over as senior VP, North American Container, while Jay Royalty and Clay Ellis step into senior VP roles in Containerboard and Global Cellulose Fibers, respectively. Aimee Gregg and Allison Magness have been elected to the leadership team as senior VPs of Supply Chain and Manufacturing. CEO Mark Sutton emphasized that these appointments enhance agility and strengthen customer service and growth initiatives.