International Paper Q1 adj EPS $0.17 vs $0.53 YoY; revenue $4.62B; DS Smith deal on track

INTERNATIONAL PAPER CO /NEW/

2024-Q1 EPS reported $0.16 revenue$4,619,000,000

Q1 net earnings $56M ($0.16 diluted EPS); adjusted EPS $0.17 vs $0.53 YoY.
Revenue $4.62B, down 8% YoY from $5.02B; cash from ops $395M; free cash flow $144M.
Results hit by ~$52M pre-tax from winter freeze and Ixtac, Mexico fire.
Industrial Packaging op profit $216M (down from $315M Q4); Global Cellulose Fibers loss $47M.
CEO transition: Sutton retires May 1, Silvernail becomes CEO; DS Smith acquisition ($9.9B EV) expected Q4 2024.

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