International Paper Posts $1.10 Billion Q3 Loss on EMEA Goodwill Impairment

What happened

International Paper reported third-quarter 2026 net sales of $6.20 billion and a $1.10 billion loss from continuing operations. The loss included a $1.38 billion non-cash goodwill impairment charge for its Packaging Solutions EMEA business.

Confirmed

Global impact / market context

The impairment is a non-cash charge, meaning no cash leaves the business now, but it signals the EMEA packaging unit is worth less than previously booked. Adjusted earnings of $0.37 per share show underlying operations stayed profitable despite the headline loss.

Analyst inference

North American packaging results improved on better mill performance and lower maintenance outage costs, plus a full quarter from the NORPAC mill acquisition. However, softer demand and suspended activity at Pine Hill weighed on sales volumes, while EMEA restructuring continued.

Analyst inference

What to watch

1. Watch whether Packaging Solutions EMEA restructuring and cost actions continue, since this segment drove the $1.38 billion goodwill impairment charge in the quarter. Confirmed
2. Management could face questions on whether further EMEA impairments or restructuring charges are possible if weak packaging demand persists in that region. Proposed
3. Track North American packaging demand and the Pine Hill suspension, because lower volumes could offset gains from higher prices and the NORPAC mill acquisition. Analyst inference

Evidence

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