International Paper: Q4 Earnings Snapshot
MEMPHIS, Tenn. (AP) — MEMPHIS, Tenn. (AP) — International Paper Co. (IP) on Thursday reported a loss of $284 million in its fourth quarter.
The Memphis, Tennessee-based company said it had a loss of 82 cents per share. Earnings, adjusted for non-recurring costs, came to 41 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.
The global paper and packaging company posted revenue of $4.6 billion in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $4.69 billion.
For the year, the company reported profit of $288 million, or 82 cents per share. Revenue was reported as $18.92 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IP at https://www.zacks.com/ap/IP
