International Paper (IP) Q1 2020 Earnings Call Transcript

International Paper (IP) Q1 2020 Earnings Call Transcript

It's now my great pleasure to turn the conference over to Guillermo Gutierrez, vice president of investor relations.. Our speakers this morning are Mark Sutton, chairman and chief executive officer; and Tim Nicholls, senior vice president and chief financial officer.. International Paper entered the crisis in a position of strength.. And we have a strong balance sheet and liquidity position that provides us financial flexibility to navigate through this period of great uncertainty.. We've taken significant steps to protect our employees and contractors.. As I said earlier, International Paper entered this crisis in a strong financial position.. In our packaging business, we were able to mitigate the impact of significant production loss in our Rome and Bogalusa mills.. We leveraged the scale and flexibility of our system to meet strong demand for corrugated packaging and absorbent pulp.. And through outstanding collaboration across our commercial, supply chain and manufacturing organizations, we adapted quickly to meet our customers' rapidly changing needs, all of which contributed to solid performance in the first quarter and further strengthens our position, as we navigate the uncertainty that lies ahead.. Price/mix was a headwind as expected due to the prior index movements in North American packaging and