International Paper Reports Strong Industrial Packaging Results for Q1 2013

Business segment operating profits before special items in the first quarter of 2013 were $571 million, compared with $565 million in the fourth quarter of 2012 and $538 million in the first quarter of 2012.

"Industrial Packaging posted solid results driven by improved pricing and synergies, however, the company’s overall performance in the quarter was muted by seasonally slow demand across our global operations, weak earnings from xpedx and an unfavorable foreign exchange swing at Ilim," said John Faraci, Chairman and Chief Executive Officer. "Looking ahead, peak annual maintenance outage spending and expansion project ramp-up costs at Ilim will impact the second quarter. Earnings runway from our strategic projects and announced pricing initiatives will position the company to deliver step-change financial performance in the second half of 2013, regardless of what looks to be a continued slow and uneven global economy."