The company reported net revenue of $432 million in the second quarter, up 62% from a year earlier (the second quarter of last year was the peak of the COVID-19 shutdown). Net sales rose 15.4% to $5.6 billion from $4.86 billion a year earlier.International Paper will struggle with supply chain disruptions for the rest of 2021 while replenishing inventories and working to increase production, executives said on July 29.
Supplies of caustic soda, a key ingredient for the pulp and paper industry, have been tight in the US and Europe since deep frosts hit the US Gulf Coast in mid-February. In mid-June, persistent rain and operational problems from a tropical storm briefly disrupted production in the United States and Europe. International Paper saw raw material supplies squeezed and some of its factories shut down, adding to the "extremely low" inventory of cardboard, which makes corrugated boxes.
