IP Q2 Earnings Drop In Response To Pandemic

摘要

Memphis, Tennessee-based International Paper’s (IP’s)second-quarter earnings are down compared with the sametime period in 2019.According to the company’s earnings report, IP achievedsecond-quarter net earnings of $266 million comparedwith $141 million in the first quarter of the year and $292million in the second quarter of 2019. The company reportsthat this year’s first-quarter net earnings included an after-tax charge of $337 million for the impairment of the netassets and write-off of foreign currency translation adjustmentfollowing the announcement of the sale of IP’s Brazilpackaging business.