International Paper has reported first-quarter (Q1) 2026 net sales of $5.97bn, up 13.4% compared with $5.2bn a year earlier.
Earnings from continuing operations were $76m, against a loss of $124m in Q1 2025.
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Packaging solutions sales in North America fell 2% to $3.6bn while packaging solutions sales in the Europe, Middle East, and Africa (EMEA) region rose 49.8% to $2.3bn.
The North America segment recorded an operating profit of $248m for the quarter, up from $142m a year earlier.
The company said reduced seasonal volumes outweighed the effect of stronger export pricing and a more favourable sales mix.
Cost of sales increased because of higher operating and input costs, partly offset by lower planned maintenance outage expenses.
The EMEA segment posted an operating loss of $51m in Q1 2026, compared with an operating profit of $46m in the same period last year.
Lower paper selling prices were offset by better packaging margins.
International Paper received $1.1bn in net proceeds from the disposal of its global cellulose fibres business and reduced debt by $660m.
International Paper chairman and CEO Andy Silvernail said: “This quarter, we delivered meaningful progress across the business. In North America, our commercial actions are gaining traction and helping us outgrow the market while we advance cost-out efforts and make solid gains in mill and box plant productivity. In EMEA, we’re accelerating commercial and cost initiatives while a small core team is focusing on the planned separation.
“We still have work to do to improve consistency and reliability, but the primary pressures this quarter came from a tougher macro environment, including ongoing inflation and the severe winter storm.”
Last month, the company agreed to acquire North Pacific Paper Company (NORPAC) from One Rock Capital Partners in a $360m transaction.
