International Paper Reports Fourth-Quarter Loss, Beating Analyst Expectations
International Paper Co. (IP) reported a net loss of $147 million in its fourth quarter, translating to a loss per share of 42 cents. Non-recurring expenses adjusted for the loss led to a slightly reduced loss of 2 cents per share.
These results exceeded market expectations, as analysts surveyed by Zacks Investment Research had projected a loss of 7 cents per share.
The global paper and packaging company's revenue for the period amounted to $4.58 billion, falling short of analysts' estimates of $4.72 billion.
For the full year, IP reported a profit of $557 million, or $1.57 per share, on revenue of $18.62 billion.