Annual net sales totaled $21.7 billion in 2017 compared with $19.5 billion in 2016. The year-over-year revenue increase was primarily due to the pulp business acquired from Weyerhaeuser in late 2016. Quarterly net sales were $5.7 billion in the fourth quarter of 2017 compared with $5.0 billion in the fourth quarter of 2016.
Full-year business segment operating profits were $2.1 billion in 2017 compared with $2.1 billion in 2016. Business segment operating profits in the fourth quarter of 2017 were $824 million compared with $442 million in the fourth quarter of 2016.
"In 2017, we delivered on our commitment of strong cash generation and value creation, enabling us to strengthen our balance sheet and increase our dividend," says Mark Sutton, chairman/CEO. "We made outstanding progress integrating the Global Cellulose Fibers business and delivering synergies, while also making an important strategic move in consumer packaging that further enables us to focus on growing meaningful value in our core businesses.
"Looking at the fourth quarter, the company delivered its best results in a decade, driven by healthy demand and excellent commercial performance in Industrial Packaging and Global Cellulose Fibers. All in, the momentum we've built throughout 2017 positions us well for another year of strong earnings growth in 2018."