International Paper income statement

In fiscal 2025, International Paper reported revenue of $23.63bn, up 49.3% on the year before and net income of −$3.52bn, or −$6.95 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

International Paper: income statement, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Revenue	23.4	25.2	26.0	21.9	23.5	23.6	20.7	19.5	21.7	23.3	18.3	17.6	19.4	21.2	16.0	15.8	23.6	24.2
Cost of revenue	—	—	—	—	—	—	—	—	14.8	15.6	12.7	12.3	13.8	15.1	11.5	11.4	16.6	17.0
Gross profit	8.1	6.7	7.1	7.2	7.2	7.4	6.9	—	6.9	7.8	5.6	5.2	5.5	6.0	4.5	4.4	7.0	7.2
Selling, general and administrative	2.0	1.9	1.9	1.7	1.8	1.8	1.5	1.5	1.6	1.7	1.4	1.4	1.4	1.3	1.3	1.7	2.1	2.1
Operating income	2.4	1.7	2.2	1.9	2.2	2.1	2.4	—	—	—	—	—	—	—	—	—	—	—
Interest expense	0.7	0.6	0.6	0.7	0.7	0.7	0.6	0.7	0.8	0.7	0.7	0.6	0.4	0.4	0.4	0.4	0.6	0.5
Net interest income	−0.7	−0.6	−0.5	−0.7	−0.6	−0.6	−0.6	−0.5	−0.6	−0.5	−0.5	−0.4	−0.3	−0.3	−0.2	−0.2	−0.4	−0.3
Income before tax	1.2	0.8	1.5	1.0	1.2	0.9	1.1	0.8	0.8	1.8	0.9	0.3	1.0	1.5	0.4	0.4	−3.4	−3.3
Income tax	0.5	0.2	0.3	0.3	−0.5	0.1	0.4	0.2	−1.1	0.4	0.5	0.2	0.2	−0.2	0.1	−0.4	−0.5	−0.5
Net income	0.7	0.7	1.3	0.8	1.4	0.6	0.9	0.9	2.1	2.0	1.2	0.5	1.8	1.5	0.3	0.6	−3.5	−3.4
Diluted EPS	$1.55	$1.59	$3.03	$1.80	$3.11	$1.29	$2.23	$2.18	$5.13	$4.85	$3.07	$1.22	$4.47	$4.10	$0.82	$1.57	−$6.95	−$6.51
Diluted shares (average)	434m	440m	443m	440m	448m	432m	421m	416m	418m	414m	399m	396m	392m	367m	349m	354m	506m	528m
EBITDA	3.8	3.1	3.5	3.3	3.6	3.5	3.5	—	—	—	—	—	—	—	—	—	—	—

US$ millions unless shown otherwise. Fiscal quarters.

International Paper: income statement, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Revenue	3,979	3,922	5,264	6,142	6,222	6,006	5,971	6,004
Cost of revenue	2,880	2,765	3,805	4,422	4,287	4,123	4,244	4,344
Gross profit	1,099	1,157	1,459	1,720	1,935	1,883	1,727	1,660
Selling, general and administrative	473	481	487	525	493	545	510	564
Operating income	237	—	—	—	—	—	—	—
Interest expense	107	108	135	143	135	138	132	131
Net interest income	−52	−58	−84	−108	−85	−95	−76	−87
Income before tax	5	113	−155	116	−675	−2,654	93	−26
Income tax	−107	24	−32	40	−250	−291	17	−15
Net income	150	−147	−105	75	−1,102	−2,384	60	−12
Diluted EPS	$0.42	−$0.42	−$0.24	$0.14	−$2.09	−$4.52	$0.11	−$0.02
EBITDA	445	—	—	—	—	—	—	—

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

Compare with peers

Head to head: AMCR vs IP IP vs SW IP vs PKG

More: Paper & Plastic Packaging Products & Materials stocks compared, Materials sector, rankings of US companies

Figures from International Paper's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to International Paper.