International Paper Reports Second Quarter 2026 Results
International Paper (NYSE: IP) reported second-quarter 2026 net sales of $6.00 billion. It posted a $12 million loss from continuing operations and adjusted EBITDA of $587 million. Operating cash flow was $526 million, and free cash flow was $(7) million. For Q3, adjusted EBITDA is guided to $780-$830 million, including $85 million from a temporary Pine Hill, Alabama mill closure.
How this was made
The 30-second read
Why it matters
The combination of quantified Q2 performance, segment commentary, and explicit adjusted EBITDA guidance (with a quantified $85M headwind) is likely to drive near-term estimate changes and trading around the earnings webcast and subsequent 10-Q.
Market read
This is a direct earnings-and-guidance release with multiple quantified datapoints and a near-term operational headwind, making it actionable for traders managing earnings risk.
What to watch
Segment operating profit diverged sharply (North America +$204M vs EMEA -$80M), so investors may focus more on EMEA margin trajectory than consolidated headline EBITDA.
Background
International Paper is communicating Q2 2026 preliminary results and reiterating that the final figures will be filed in its Aug. 6, 2026 10-Q.
Ticker impact
International Paper reported Q2 2026 net sales of $6.00B, adjusted EBITDA of $587M, and guided Q3 adjusted EBITDA to $780-$830M.
Likely two-way reaction depending on how the $780-$830M Q3 range and $3.20-$3.40B full-year target compare with Street expectations, with Pine Hill closure as a near-term swing factor.
The release includes multiple quantified datapoints (sales, adjusted EBITDA, free cash flow) plus forward guidance and a stated $85M negative impact from a temporary mill closure, which can drive estimate revisions and positioning into the 10-Q.
Market effects
Signals demand and pricing dynamics in packaging and paper, including EMEA softness and North America box volume growth.
Highlights North America execution versus EMEA margin pressure from lower volumes and paper price lag in box pricing.
Provides a read-through to global packaging supply-demand and input-cost normalization (energy, fiber, recovered fiber, freight).
Counterpoint
Despite strong adjusted EBITDA, free cash flow was slightly negative ($(7)M), suggesting cash conversion may lag and cap upside on the stock.
Key entities
- companyInternational Paper
Reported Q2 2026 results and provided Q3 and full-year adjusted EBITDA guidance, including a $85M negative impact from a temporary mill closure in Pine Hill, Alabama.
- executiveAndy Silvernail
CEO/Chairman cited improved mill performance, Riverdale machine conversion completion, cost-out actions, and progress toward separation.
