Filing Flows › International Paper (IP) › Q2 2025
International Paper (IP) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
International Paper (IP) reported revenue of $6.8B for the second quarter 2025 (Q2 2025), +43% from a year earlier and +15% from the quarter before. Operating margin was 1.7%, net earnings $75.0M (1.1% of revenue).
International Paper, Q2 2025: revenue $6.8B (+43% year over year), operating margin 1.7%, net earnings $75.0M, operating cash flow $476M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $6.8B | +15% | +43% |
| Operating profit | $115M | — | -64% |
| Net earnings | $75.0M | — | -85% |
| Operating cash flow | $476M | — | +30% |
| Free cash flow | $54.0M | — | -68% |
What changed
Revenue was $6.8B in Q2 2025, up 43% year over year and up 15% from the previous quarter.
Operating profit was $0.12B, a 1.7% margin (down 5.1 points year over year). Operating profit fell $0.21B even though revenue rose $2.0B versus a year earlier, so costs grew faster than sales. Total costs grew 51% against revenue growth of 43%. The fastest-growing cost line was Other operating costs (+100%). Net earnings were $0.07B, down 85% year over year. The effective tax rate was 34.8%.
Operating cash flow was $0.48B (up 30% year over year), 635% of net earnings. Non-cash charges added back $0.48B of depreciation and amortization. Working capital and other items used $0.08B. After capital expenditures ($0.42B), free cash flow as the company reports it was $0.05B.
Questions
What was International Paper's revenue in the second quarter 2025?
International Paper (IP) reported revenue of $6.8B for the second quarter 2025 (Q2 2025), +43% from a year earlier and +15% from the quarter before.
Was International Paper profitable in the second quarter 2025?
Operating profit was $115M (1.7% of revenue) and net earnings $75.0M.