International Paper reported a full-year 2024 net earnings of $557 million, or $1.57 per diluted share, with adjusted operating earnings of $400 million, or $1.13 per diluted share. Full-year net sales for 2024 were $18.6 billion, compared to $18.9 billion in 2023.
For the fourth quarter of 2024, the company reported a net loss of $147 million, or $(0.42) per diluted share, and an adjusted operating loss of $7 million, or $(0.02) per diluted share. Fourth quarter net sales were $4.6 billion, consistent with the prior year.
Fourth quarter results included a pre-tax charge of $395 million for accelerated depreciation and restructuring, with $334 million specifically related to the Georgetown, S.C. pulp mill closure. The Global Cellulose Fibers segment reported an operating loss of $(250) million, significantly impacted by $215 million of accelerated depreciation from the Georgetown mill closure.
Industrial Packaging operating profit improved to $247 million in Q4 2024 from $197 million in Q3 2024, benefiting from lower recovered fiber costs and an insurance reimbursement. Management expects 2025 to be a transformational year, with the DS Smith acquisition anticipated to close on January 31, 2025.
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