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IP · Q2 2026
Archived report (Q2 2026). Latest deep dive →
The quarter in brief
Revenue fell 2.2% y/y to $6.00B, operating margin 0.7% vs 3.6%, net loss $12M (vs net income $75M a year earlier).
All figures in $M.
| Line item | Amount and change |
|---|---|
| Net sales | $6,004 · −2.2% |
| Net gains on sales and impairments of businesses | $11 · −78.4% |
| Non-operating pension income | $16 · +220% |
| Income Tax Benefit | $15 · vs −$40 |
| Net earnings (loss) | $12 · vs $75 |
| Cost of products sold | $4,344 · −1.8% |
| Selling and administrative expenses | $564 · +7.4% |
| Depreciation and amortization | $488 · +13.2% |
| Distribution expenses | $523 · +1.4% |
| Taxes other than payroll and income taxes | $42 · +2.4% |
| Restructuring charges, net | $9 · −76.9% |
| Interest expense, net | $87 · −19.4% |
| Equity loss, net of taxes | $1 · +0.0% |
Verdict: revenue fell 2.2% y/y to $6.00B, operating margin 0.7% vs 3.6%, net loss $12M (vs net income $75M a year earlier).
Diluted loss per share from continuing operations $0.02 vs earnings of $0.14 a year earlier; adjusted operating EPS $0.04 (non-GAAP); adjusted EBITDA from continuing operations $587 million vs $670 million.
Source and notation
Source: International Paper earnings release, 8-K EX-99 of 07/30/2026 (SEC EDGAR). The income statement lines were taken from the release by hand; the program found every figure in the release text and checked the accounting identities and the chart balance; revenue and net income match SEC XBRL.
Open as an image: IP, Q2 2026 (PNG) ↗ · for sharing and presentations · free to reuse, CC BY 4.0
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Chart: “IP Q2 2026: where the revenue went” by Who Reports Today, https://whoreportstoday.com/t/ip/q2-2026. Licensed under CC BY 4.0.
<figure> <a href="https://whoreportstoday.com/t/ip/q2-2026"><img src="https://whoreportstoday.com/t/ip/q2-2026/sankey.png" alt="IP Q2 2026: where the revenue went" loading="lazy" style="max-width:100%;height:auto"></a> <figcaption>Source: <a href="https://whoreportstoday.com/t/ip/q2-2026">Who Reports Today</a>, licensed under <a href="https://creativecommons.org/licenses/by/4.0/">CC BY 4.0</a></figcaption> </figure>
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<a href="https://whoreportstoday.com/t/ip/q2-2026">IP Q2 2026 earnings chart (Who Reports Today)</a>
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- Net sales slipped to $6,004M from $6,142M; depreciation and amortization rose to $488M from $431M and selling and administrative expenses to $564M, so operating income fell to $45M from $219M.
- Operating income was $45M, a 0.7% margin vs 3.6% a year earlier.
- The effective tax rate was 57.7% vs 34.5% a year earlier.
- Diluted EPS was −$0.02 vs $0.14 a year earlier.
What distorts the picture in this report and what to watch beyond the headlines.
IP — International Paper is a producer of renewable fiber-based packaging, mainly corrugated boxes and containerboard, in North America and EMEA.
Headquarters: Memphis, Tennessee.
Heads-up
- a net loss in Q2 2026 ($12 · vs $75)
Net loss for Q2 2026: $12M. In the report's figures: costs grew faster than revenue: depreciation and amortization +13% y/y. Based on the Q2 2026 report.
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