We've made good progress during the second quarter and have identified serious options that we believe could be attractive". In the Q&A call, the CEO confirms that IP " has engaged advisors and are actively working with interested parties. International Paper is continuously focusing to find a strategic option for its JV. This was driven by higher operating costs that were not offset by higher selling prices. Ilim Group reached an equity contribution of $95 million, a lower result compared to the 2021 Q2. Aside from the positive contribution as already pointed out in the Industrial Packaging division, we add that volume was impacted by supply chain constraints. We should also state that a good performance was achieved quarter on quarter. Global Cellulose Fibers' operating profit stood at $25 million compared to a million achieved in the same quarter one year ago. This positive performance was due to multiple factors: lower operating costs, lower maintenance costs and higher selling prices. Industrial Packaging's operating profit was up compared to the Q1 and also to the previous year's quarter.Regarding the divisional basis, here below our key takeaways: Before analyzing the company-specific segment, we can clearly state that International Paper was able to mitigate raw material inflationary pressure with higher selling prices. In detail, the operating profit reached $559 million versus a consensus forecast of $480 million. Looking at the quarterly report versus the Street analysts' expectations, Q2 results of adjusted earnings per share were 16% above IBES numbers. We recognized IP as a leading ESG player.Plastic bans in developed countries will support higher topline sales.Global e-commerce trend and solid demand for IP products.Aside from the financial considerations, we are confident in the following:.
#INTERNATIONAL PAPER FULL#
This is supported by the Q2 IP disclosure and also by the lower CAPEX requirement for the full year Again, we are assuming a lower cost in the second half of the year adjusting our model, we estimate $85 million in Q3.
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Today, International Paper ( NYSE: IP) reported its quarterly results, and it is interesting to note how the packaging corporation is adjusting its presentation moving to the very bottom Ilim JV disclosure.