International Paper FY2026 Q2: sales slip, EMEA loss widens, H2 ramp promised
International Paper's second quarter was weaker than the headline suggests: a $12 million net loss, an $80 million operating loss in EMEA, and adjusted EBITDA down 12.4% year over year to $587 million. Management still promises a much stronger second half, with full-year guidance implying a fourth quarter roughly twice the size of this one. Read the segments first — North America carries the profit and EMEA is where the money goes.
1 · Expected vs. Actual
Free preview belowGAAP diluted EPS was -$0.02 against a consensus estimate of -$0.006, so the reported loss was slightly wider than expected. Adjusted operating EPS was $0.04, down from $0.18 a year ago and $0.15 in the first quarter. Net special items were a $54 million pre-tax charge, or $42 million after tax, which the release calls $0.08 per diluted share while the EPS reconciliation adds back $0.10.
Net sales were $6.004 billion, down 2.2% from $6.142 billion a year ago but up 0.6% from $5.971 billion in the first quarter. North America brought in $3.688 billion and EMEA $2.287 billion, so about 61.4% of revenue sits in the segment that actually earns money. The year-over-year decline is the trend that matters, not the sequential bump.
Log in to read 35 analyses a week for free
Create a free account to read 35 full earnings analyses each week — all five steps: expected vs. actual, guidance tracker, money flow, balance sheet and risks. Members get unlimited access.
Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
Answers are based on the earnings release and the analysis above. Free accounts get 3 questions a week; members get 30 a day.