International Paper Co

Company facts

Industry

Paper Mills

Headquarters

Memphis, Tennessee

Most recent report

10-Q, filed Aug 5, 2026

Incorporated

New York

Filings on record

1,000+ filings

On EDGAR

CIK 51434

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Jun 2026 10-Q

SECSift found 2 of 13 sections worth reading, with 3 positive, 7 notable, and 8 negative flags.

• Financial Statements (Item 1)

  Net loss swing, segment losses, massive cash flow, and multiple litigation exposures.
  Notable

  • PS EMEA spin-off announced Jan 29, 2026, expected to complete in 12-15 months.
  • Supplier finance program liability grew to $437M from $368M at Dec 2025.
  Negative

  • Antitrust class action filed July 2025, seeks unspecified treble damages for containerboard price fixing.
  • Brazil tax assessments total $434M; IP liable for 60% of first $300M and all over $300M.
  • $2.4B Timber Notes and $2.1B Extension Loans both mature Q4 2027.

• Management's Discussion (Item 2)

  Full MD&A with company-specific results, strategic spinoff, goodwill risk, liquidity details.
  Positive

  • Six-month operating cash flow surged to $1.14B from $188M a year earlier.
  • Box shipments increased 1.7% daily year-over-year in Q2 2026.
  • Mill capacity utilization up 5% versus 2025 in Q2 2026.
  Notable

  • Net sales slipped 2% to $6.0B in Q2 2026 from $6.14B in Q2 2025.
  • Six-month free cash flow turned positive to $87M from -$564M a year ago.
  • Completed NORPAC acquisition for $368M to boost West Coast packaging capacity.
  • Converted Riverdale paper machine for $250M; at full capacity by Q1 2027.
  • EMEA spinoff structured with IP retaining ~20% stake, to list on LSE and NYSE.
  Negative

  • GAAP loss of $12M in Q2 2026 vs $75M profit in Q2 2025.
  • Adjusted EBITDA fell to $587M in Q2 2026 from $670M in Q2 2025.
  • Pine Hill mill temporarily suspended due to roof damage; operations expected to resume August 2026.
  • Moody's rating negative outlook on Baa2 long-term debt.
  • PS EMEA goodwill still at risk; estimated fair value continues to approximate carrying value.

What changed: Jun 2026 vs. Mar 2026

About 24% of IP's Jun 2026 10-Q is new information. 81 paragraphs were added, 180 changed, and 51 removed. Below are the most important lines SECSift identified.

• Item 2 115
• Item 1 89
• Item 4 2
• Item 6 2
• Item 5 1