Filing Flows › International Paper (IP) › Q3 2025
International Paper (IP) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
International Paper (IP) reported revenue of $6.2B for the third quarter 2025 (Q3 2025), +56% from a year earlier and -8% from the quarter before. Operating margin was -21.7%, net loss $1.1B (17.7% of revenue).
International Paper, Q3 2025: revenue $6.2B (+56% year over year), operating margin -21.7%, net loss $1.1B, operating cash flow $605M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $6.2B | -8% | +56% |
| Operating profit | −$1.4B | -1276% | — |
| Net earnings | −$1.1B | -1569% | — |
| Operating cash flow | $605M | +27% | +16% |
| Free cash flow | $150M | — | -51% |
What changed
Revenue was $6.2B in Q3 2025, up 56% year over year and down 8% from the previous quarter.
Operating costs exceeded revenue by $1.4B, an operating margin of -21.7%. Total costs grew 102% against revenue growth of 56%. The fastest-growing cost line was Other operating costs (+618%). The quarter ended with a net loss of $1.1B, after a profit of $0.07B the previous quarter.
Operating cash flow was $0.60B (up 16% year over year). Non-cash charges added back $1.1B of depreciation and amortization. Working capital and other items added $0.61B. After capital expenditures ($0.46B), free cash flow as the company reports it was $0.15B.
Questions
What was International Paper's revenue in the third quarter 2025?
International Paper (IP) reported revenue of $6.2B for the third quarter 2025 (Q3 2025), +56% from a year earlier and -8% from the quarter before.
Was International Paper profitable in the third quarter 2025?
Operating loss was $1.4B (-21.7% of revenue) and net loss $1.1B.