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International Paper (IP) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · International Paper (IP) Q3 2026 earnings results →

Q3 2026 Revenue down 0% year over year to $6.2B · 18¢ of every $1 of revenue lost · operating margin -19.7%

International Paper made $6.2B in Q3 2026 (-0.4% Y/Y). Operating margin -19.7%, net loss $1.1B. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.

Revenue$6.2B
Year over year-0.4%
Operating margin-19.7%
Net earnings−$1.1B
Operating cash flow$339M

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International Paper Q3 2026 revenue breakdown: Sankey diagram of revenue, costs, profit and cash flow
International Paper Q3 2026 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $6.2B in Q3 2026, roughly flat year over year and up 3% from the previous quarter.

Operating costs exceeded revenue by $1.2B, an operating margin of -19.7%. Total costs fell 2% while revenue was flat. The fastest-growing cost line was SG&A (+13%). The quarter ended with a net loss of $1.1B, wider than the previous quarter's $0.01B loss.

Operating cash flow was $0.34B (down 44% year over year). Non-cash charges added back $0.53B of depreciation and amortization. Working capital and other items added $0.94B. Capital expenditures of $0.61B exceeded it, leaving free cash flow of −$0.27B.

Quarterly history

International Paper revenue by quarterInternational Paper revenue by quarter$5.9BQ1 2025$6.8BQ2 2025$6.2BQ3 2025$6.0BQ4 2025$6.0BQ1 2026$6.0BQ2 2026$6.2BQ3 2026
International Paper net earnings by quarterInternational Paper net earnings by quarter−$105MQ1 2025$75.0MQ2 2025−$1.1BQ3 2025−$2.4BQ4 2025$60.0MQ1 2026−$12.0MQ2 2026−$1.1BQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QNov 4, 2026$6.2B-0.4%-19.7%−$1.1B$339M
Q2 202610-QAug 5, 2026$6.0B-2%-0.4%−$12.0M$526M
Q1 202610-QMay 5, 2026$6.0B+13%1.3%$60.0M$611M
Q4 202510-KFeb 27, 2026$6.0B+53%-44.5%−$2.4B$905M
Q3 202510-QNov 6, 2025$6.2B+56%-21.7%−$1.1B$605M
Q2 202510-QAug 7, 2025$6.8B+43%1.7%$75.0M$476M
Q1 202510-QMay 7, 2025$5.9B+28%-2.3%−$105M−$288M

Charts

International Paper: revenue growth, year over year and quarter over quarterInternational Paper: revenue growth, year over year and quarter over quarterY/YQ/Q+28%Q1 2025+43%+15%Q2 2025+56%-8%Q3 2025+53%-3%Q4 2025+13%-1%Q1 2026-2%+1%Q2 20260%+3%Q3 2026
Latest (Q3 2026): Y/Y 0%, Q/Q +3%.
International Paper: where the cash came from (+) and went (−), TTM to Q3 2026International Paper: where the cash came from (+) and went (−), TTM to Q3 2026Operating cash flow$2.4BCapital spending−$2.3BAsset & business sales$1.3BDividends−$979MOther investing−$408MCash drawn (+) / kept (−)$190MExchange rates−$67.0MOther financing−$40.0MBuybacks−$32.0M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
International Paper: profit against cash, quarter by quarterInternational Paper: profit against cash, quarter by quarterNet incomeOperating cash flow−$147M$397MQ4 2024−$105M−$288MQ1 2025$75.0M$476MQ2 2025−$1.1B$605MQ3 2025−$2.4B$905MQ4 2025$60.0M$611MQ1 2026−$12.0M$526MQ2 2026−$1.1B$339MQ3 2026
Latest (Q3 2026): Net income −$1.1B, Operating cash flow $339M.
International Paper: diluted shares by fiscal yearInternational Paper: diluted shares by fiscal year396MFY2020392MFY2021367MFY2022349MFY2023354MFY2024506MFY2025
+27.8% since FY2020: more shares outstanding (issuance, stock pay).
International Paper: long-term debt falling due (FY2025)International Paper: long-term debt falling due (FY2025)$992M2026$2.6B2027$739M2028$381M2029$807M2030
Cash $1.1B, short-term investments —, long-term debt $9.8B at 2025-12-31.
International Paper in its industry: growth against margin (5 companies, SIC 2621)International Paper in its industry: growth against margin (5 companies, SIC 2621)revenue growth, year over year →↑ operating marginmedian 0%median 3%Domtar CorpMAGNSLVMMATVIP (0%, -20%)
Paper Mills; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About International Paper

but labor related regulations, negotiations, or disruptions in any of these jurisdictions could impact operations, costs, 3 Executive management is defined, in accordance with the UKLR, as International Paper’s Executive Leadership Team, which includes our

In its own words, from its 10-K, filed Feb 27, 2026.

International Paper against its Paper Mills peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -0.4% against the peers' median -0.4%. Operating margin: -19.7% against the peers' median 2.6%.

CompanyQuarterRevenueY/YOp. margin
IP International PaperQ3 2026$6.2B-0.4%-19.7%
DomtarQ3 2026$1.7B+0.3%0.5%
MAGN MagneraQ3 FY26$857M+2%2.6%
SLVM SylvamoQ3 2026$645M-3%13.5%
MATV Mativ HoldingsQ3 2026$500M-3%4.0%

Source: International Paper 10-Q on SEC EDGAR · CIK 51434 · Paper Mills

Guidance and outlook

International Paper: what its forward-looking statements are about (10-Q filed 2026-11-04)International Paper: what its forward-looking statements are about (10-Q filed 2026-11-04)Other6Financing2Legal & regulation1Capital spending1
10 statements; tone +0.10 (−1 all cautious, +1 all confident); 1 hedged.
International Paper: outlook statements against the filing beforeInternational Paper: outlook statements against the filing beforeNew7Dropped12Confident1

13F: who owns IP and who is buying

Largest holders of IP (13F)Largest holders of IP (13F)Capital Research Global Investors$3.0BVanguard Group$2.5BBlackRock$1.9BPrice T Rowe Associates$1.7BVanguard Capital Management LLC$1.3BState Street$1.3BVanguard Portfolio Management LLC$949MCapital International Investors$745MBank of New York Mellon$689MInvesco$668M
Funds' net buying of IP by quarter (13F)Funds' net buying of IP by quarter (13F)$1.3B2024-09$1.3B2024-12$4.6B2025-03$1.2B2025-06$655M2025-09$13.3M2025-12−$686M2026-03$682M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on IP

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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中文版：International Paper（IP）财报

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