MEMPHIS, Tennessee — International Paper reported first quarter 2024 net earnings of $56 million. Highlights include: First quarter adjusted operating earnings (non-GAAP) of $61 million which were negatively impacted by approximately $52 million due to January freeze and Ixtac, Mexico fire. …”International Paper made progress executing our strategic initiatives in the first quarter,” said Mark Sutton, Chairman and Chief Executive Officer. “We saw commercial benefits from our business strategies, as well as cost benefits from mill system optimization. Although costs remain elevated and volumes were seasonally lower in the quarter, market trends continue to improve.” …Industrial Packaging operating profits (losses) in the first quarter of 2024 were $216 million compared with $315 millionin the fourth quarter of 2023. …Global Cellulose Fibers operating profits (losses) in the first quarter of 2024 were $(47) million compared with $(58) million in the fourth quarter of 2023.