Short answer
International Paper (IP) filed its Q3 2025 10-Q quarterly report on Nov 6, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $5.0B (up 5.8% year over year) with net income of −$1.1B.
Q3 2025 key financials · XBRL
- Revenue
- $5.0B
- +5.8% YoY · −26.7% QoQ
- Net income
- −$1.1B
- −834.7% YoY · −1569.3% QoQ
- EPS (diluted)
- −$2.21
- −626.2% YoY · −1327.8% QoQ
Source: XBRL data from the International Paper (IP) Q3 2025 10-Q on SEC EDGAR. USD.
International Paper Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $6.22B in Q3 2025, up $2.24B (56%) vs Q3 2024 $3.98B, mainly from DS Smith consolidation and price increases
- Operating loss from continuing ops $(426)M ($0.81/share) in Q3 2025 vs income $111M ($0.31/share) in Q3 2024; Adjusted operating loss $(224)M vs earnings $113M
- Adjusted EBITDA $859M in Q3 2025, 28% sequential increase from Q2 2025 driven by price realization and cost management
- PS NA segment sales $3.9B with operating loss $(166)M; PS EMEA sales $2.3B with operating loss $(58)M in Q3 2025
- Cash from ops $793M first 9 months 2025 vs $1.3B same period 2024; Free cash flow negative $(414)M vs positive $620M
- Management expects lower Q4 2025 EBITDA in PS NA due to mill closures and fewer shipping days; growth in PS EMEA EBITDA from price and volume gains
- $1.0B impairment charge recorded for Global Cellulose Fibers divestiture; expected sale closing by year-end 2025
- Capital expenditures $1.2B first 9 months 2025, up from $661M prior year; full-year capex guidance $1.8B-$1.9B
- Mill closures result in 1.7M tons capacity reduction and $840M pre-tax charges including $600M accelerated depreciation
Risk Factors
- New divestiture risk: potential delay or failure of $1.5B Global Cellulose Fibers sale to American Industrial Partners, dependent on regulatory approvals
- Updated impairment risk: $1.0B asset impairment charge recognized related to Global Cellulose Fibers divestiture
- Legal/compliance risk: transaction contingent on governmental and regulatory approvals, exposure to litigation from divestiture process
- Operational risk: divestiture may disrupt business, distract management, and impact key personnel retention and business relationships
- Financial risk: receipt of $190M preferred stock from AIP may not be realized or liquidated in near term or at all
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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