International Paper (IP) Earnings: Q3 2026 Results and Next Report Date

The quarter ended September 30, 2026 and International Paper published the results on October 28, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. International Paper reports EPS two ways: GAAP, under the accounting rules every US filer follows, and adjusted operating EPS (non-GAAP), which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Diluted EPS on this page is on total net earnings, including discontinued operations. International Paper's diluted EPS from continuing operations, the figure its release leads with, was -$2.07, against -$0.81 a year earlier.
• The Global Cellulose Fibers business, sold on January 23, 2026, is reported as discontinued operations in all periods, so its sales are not in the revenue figures.
• Q3 2026 includes a $1,377 million non-cash goodwill impairment for the Packaging Solutions EMEA segment, with no tax benefit.

Source: International Paper Q3 2026 results, October 28, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How International Paper splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• International Paper's Packaging Solutions North America revenue was $3.9 billion in Q3 2026, flat on $3.9 billion in Q3 2025, 63% of total revenue.
• International Paper's Packaging Solutions EMEA revenue was $2.3 billion in Q3 2026, down 1% from $2.3 billion in Q3 2025, 37% of total revenue.
• International Paper's Corporate and Inter-segment Sales revenue was $37.0 million in Q3 2026, up 164% from $14.0 million in Q3 2025, under 1% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, International Paper said:

“Packaging Solutions North America Business segment operating profit: ◦ Fourth quarter 2026: $460-$500 million ◦ Full-Year 2026: $1.3-$1.4 billion”

“Packaging Solutions North America Adjusted EBITDA (non-GAAP): ◦ Fourth quarter 2026: $700-$740 million ◦ Full-Year 2026: $2.27-$2.31 billion”

“As a result of the planned separation of the EMEA packaging business and the subsequent U.K. regulatory requirements, the Company is no longer including our existing Packaging Solutions EMEA financial guidance in our guidance framework and does not anticipate providing such guidance in the future.”

Source: International Paper Q3 2026 release, Oct 28, 2026.

This is the company's own guidance as of Oct 28, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the IP forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Net sales and diluted EPS on total net earnings (including discontinued operations), each as first reported in that quarter's release.

International Paper's next report is expected around January 28, 2027, a date estimated from its reporting history that the company has not yet confirmed. This page will show Q3 2026 until those results are out and have been checked against the release.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 28, 2026

International Paper reports two business segments. In Q3 2026 Packaging Solutions North America had net sales of $3,880 million and Packaging Solutions EMEA $2,280 million, with $37 million of corporate and inter-segment sales, for a total of $6,197 million. A year earlier the two segments had $3,898 million and $2,310 million. (International Paper Q3 2026 release, Oct 28, 2026)

International Paper makes containerboard (linerboard, medium, whitetop and saturating kraft) and converts it into corrugated boxes, bulk bins, shipping containers and specialty packaging for food and beverage, agriculture, industrial manufacturing, personal care, pharmaceuticals and consumer goods customers. It sells directly to end users and converters and through agents, resellers and distributors. (International Paper Form 10-K, 2025, Feb 27, 2026)

By location of the seller, $3,775 million of Q3 2026 net sales came from the United States, $2,281 million from EMEA, $139 million from the Americas outside the U.S. and $2 million from Pacific Rim and Asia. (International Paper Form 10-Q, Q3 2026, Nov 4, 2026)

International Paper said North America net sales reflected continued realization of previously announced pricing actions, partly offset by lower volumes. Its box shipments fell approximately 2% on a daily basis from the prior-year period, which it attributed to disruption in West Coast fresh fruit and vegetable markets, weaker protein markets, seasonally lower daily demand and lower export sales. In EMEA, higher paper prices were offset by lower volumes in what it called a persistently soft market. (International Paper Form 10-Q, Q3 2026, Nov 4, 2026)

The portfolio is changing. International Paper sold its Global Cellulose Fibers business on January 23, 2026, bought North Pacific Paper Company (NORPAC) in Longview, Washington on June 4, 2026 for $362 million, and is preparing to separate its EMEA packaging business into an independent company to be known as DS Smith plc. (International Paper Form 10-Q, Q3 2026, Nov 4, 2026; International Paper Q3 2026 release, Oct 28, 2026)

International Paper's Q3 2026 diluted loss of $2.13 per share includes a $0.06 loss from discontinued operations; the loss from continuing operations was $2.07 per share. The main item was a $1,377 million non-cash goodwill impairment for Packaging Solutions EMEA, with no tax benefit. Net special items came to an after-tax charge of $1.31 billion, or $2.46 per diluted share. (International Paper Q3 2026 release, Oct 28, 2026)

Adjusted operating EPS, International Paper's non-GAAP figure, was $0.37, against a loss of $0.43 a year earlier. It excludes net special items (here the impairment, $65 million of EMEA separation costs and a $78 million tax benefit from settling tax audits) and non-operating pension income. The year-ago quarter carried $342 million of severance and other costs and $675 million of accelerated depreciation tied to mill closures and 80/20 actions. (International Paper Q3 2026 release, Oct 28, 2026)

Diluted average shares were 529.6 million, against 528.0 million a year earlier. International Paper repurchased no shares under its buyback program in the first nine months of 2026, with about $2.96 billion of authorization remaining, and paid a dividend of $0.4625 per share in the quarter. (International Paper Q3 2026 release, Oct 28, 2026; International Paper Form 10-Q, Q3 2026, Nov 4, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

International Paper gives targets for Packaging Solutions North America only. For Q4 2026 it expects segment operating profit of $460 million to $500 million and adjusted EBITDA of $700 million to $740 million, and for full-year 2026 operating profit of $1.3 billion to $1.4 billion and adjusted EBITDA of $2.27 billion to $2.31 billion. Because of the planned EMEA separation and U.K. regulatory requirements, it no longer gives EMEA guidance. (International Paper Q3 2026 release, Oct 28, 2026)

In the 10-Q International Paper said it expects North America operating profit to be sequentially higher in Q4 on pricing, seasonally higher volumes and new customer business, with higher recovered fiber and diesel costs, seasonally higher labor and benefit costs and more planned maintenance outage spending working the other way. (International Paper Form 10-Q, Q3 2026, Nov 4, 2026)

A consensus figure is the average of the models published by the analysts who cover International Paper, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones International Paper's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning IP is on is IP a buy or a sell?, what analysts expect next is on the IP forecast, and what the company does is on the International Paper (IP) stock page.

Every number on this page can be traced to a document International Paper published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.