$IP · INTERNATIONAL PAPER CO /NEW/
International Paper's Q3 FY2026 10-Q shows a $1.377B goodwill impairment and $9M in restructuring charges, producing a GAAP net loss of $1.126B ($2.13/share) versus a $1.102B loss a year ago. Revenue was $6.197B, down 0.4% YoY. Adjusted operating EPS was $0.37, and adjusted EBITDA from continuing operations was $843M. The company completed the sale of its Global Cellulose Fibers business to AIP on January 23, 2026, and is pursuing a separation of PS NA and PS EMEA.
- Goodwill impairment of $1.377B recorded in Q3 FY2026.
- GAAP net loss of $1.126B, or $2.13 per diluted share.
- Revenue of $6.197B, down 0.4% year over year.
- Adjusted operating EPS of $0.37 and adjusted EBITDA of $843M.
- Nine-month free cash flow was negative $180M versus negative $414M a year ago.
Extended-hours last trade of $35.58, down 0.20% versus the $35.65 regular close, a muted reaction to the impairment-driven loss.
A $1.38B goodwill impairment and $1.13B net loss show the cost of IP's ongoing portfolio restructuring.
The goodwill write-down and PS EMEA/PS NA separation reflect continued portfolio restructuring across the packaging sector following the DS Smith integration.
The PS EMEA separation may be a taxable spin-off or another alternative, with no assurance on structure, timing, or completion. Goodwill impairment signals reduced valuation expectations for the packaging segment.