USA – International Paper (IP) reported full-year 2024 net earnings of US$557 million, or US$1.57 per diluted share, and adjusted operating earnings (non-GAAP) of US$400 million, or US$1.13 per diluted share.
Full-year net sales were US$18.6 billion in 2024 and US$18.9 billion in 2023.
The reported Q4 net loss was US$147 million, or US$0.42 per diluted share, and adjusted operating loss (non-GAAP) was US$7 million, or US$0.02 per diluted share.
Q4 net sales were US$4.6 billion in 2024 and 2023.
Full-year and Q4 net earnings include a pre-tax charge of US$395 million for accelerated depreciation and restructuring charges, including US$334 million related to the previously announced closure of the Company’s Georgetown, S.C. pulp mill.
“During 2024, we initiated our strategy to deliver profitable growth as the low-cost, most reliable and innovative sustainable packaging solutions provider for our customers,” said Chairman and CEO Andy Silvernail.
“Through a disciplined 80/20 approach, we have restructured our corporate organization, added resources to the business, reduced structural costs through footprint actions and successfully piloted regional box plant optimization. In the quarter, our earnings have stabilized and we intend to accelerate earnings improvement in 2025.”
“2025 will be a transformational year with disciplined execution to further reduce costs and balance our capacity to our demand,” Silvernail added.
“We will continue to optimize and invest in our box plant system to deliver service excellence for our customers while actively exploring strategic options for our Global Cellulose Fibers business. We look forward to welcoming the DS Smith team into the IP family as we work together to become a global leader in sustainable packaging solutions.”
Packaging Corporation of America posts US$2.1B in Q4 of FY24 net sales
Meanwhile, Packaging Corporation of America (PCA) has reported Q4 2024 net income of US$221 million, or US$2.45 per share, and net income of US$222 million, or US$2.47 per share, excluding special items.
The Q4 net sales were US$2.1 billion in 2024 and US$1.9 billion in 2023.
Full year 2024 net income was US$805 million, or US$8.93 per share, and net income of US$814 million, or US$9.04 per share, excluding special items.
Full year net sales were US$8.4 billion in 2024 and US$7.8 billion in 2023.
In the Packaging segment, total corrugated product shipments and shipments per day were up 9.1% versus last year’s Q4.
Shipments per day were up 3.2% versus the Q3 2024. Containerboard production was 1,310,000 tons, and containerboard inventory was up 54,000 tons from the Q4 2023 and up 61,000 tons compared to the Q3 2024.
In the Paper segment, sales volume was up 5% compared to the Q4 2023 and down 5% from the seasonally stronger Q3 2024.
Commenting on reported results, Mark W. Kowlzan, Chairman and CEO, said, “As we have seen throughout the year, demand in our Packaging segment during the quarter remained very strong.
“Our corrugated products plants delivered record fourth quarter total shipments and an all-time record shipments per day. The plants also set new annual records for total shipments and shipments per day.”
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