IP reported Q2 2026 results highlighting strong operational execution despite a heavy outage schedule, with North America box volumes up 1.7% YoY and on track to outpace the industry. Management reaffirmed its full-year adjusted EBITDA guidance range, expecting a significant step-up in H2 driven by price realization, cost-out, and the Riverdale ramp, although macro headwinds like higher OCC, diesel costs, and geopolitical uncertainty present challenges. North America box volumes grew 1.7% YoY in Q2, expected to outpace industry by ~2% for the full year.
IP reported Q2 2026 results highlighting strong operational execution despite a heavy outage schedule, with North America box volumes up 1.7% YoY and on track to outpace the industry. Management reaffirmed its full-year adjusted EBITDA guidance range, expecting a significant step-up in H2 driven by price realization, cost-out, and the Riverdale ramp, although macro headwinds like higher OCC, diesel costs, and geopolitical uncertainty present challenges. North America box volumes grew 1.7% YoY in Q2, expected to outpace industry by ~2% for the full year.
IP reported Q2 2026 results highlighting strong operational execution despite a heavy outage schedule, with North America box volumes up 1.7% YoY and on track to outpace the industry. Management reaffirmed its full-year adjusted EBITDA guidance range, expecting a significant…
North America box volumes grew 1.7% YoY in Q2, expected to outpace industry by ~2% for the full year.
Management is making focused investments across the company to upgrade the portfolio, drive reliability, and support growth, with returns in the mid-teens to mid-twenties. Key capex projects include the Riverdale machine conversion, NORPAC acquisition, Waterloo facility, and…
Guidance tone
Guidance remains positive with a significant step-up expected in H2 2026, driven by price realization, cost-out initiatives, and the Riverdale ramp, despite macro headwinds from inflation and geopolitical conflict. The long-term outlook is maintained, though management is cautious about near-term demand.
Management is making focused investments across the company to upgrade the portfolio, drive reliability, and support growth, with returns in the mid-teens to mid-twenties. Key capex projects include the Riverdale machine conversion, NORPAC acquisition, Waterloo facility, and EMEA investments like LUCA and Romania. The company expects similar levels of investment in North America for the next two t
Management expresses confidence in execution progress, highlights tangible improvements, and reaffirms the path to achieving prior strategic targets despite macro headwinds.
“also you know we have downgraded or reduced the amount of export that's out into the system so we're pulling that back into the network to make sure we take care of our core customers so it will be a tight couple of months right if you thin”
“The mill's production was temporarily slowed during the Nippon investigation, but we responded quickly to address the reduced steam supply from their facility.”
“I do expect to have some headwind in fruit and vegetable on the West Coast in the month of July. We'll have to see, you know, people may have seen the Taco Bell announcements this morning.”
| Metric | Period | Range | Midpoint | Status |
|---|---|---|---|---|
| UnitsNORTH_AMERICA_BOX_VOLUME | FY2026 | 2% | 2% | GUIDED |
| UnitsCONTAINNERBOARD_PRICE_RE | FY2026 | 50 | 50 | GUIDED |