On Wednesday morning, International Paper Co (IP ) released its fourth quarter financial results, reporting significantly lower profits.
IP's Earnings in Brief
- IP’s profit fell to $134 million, or 32 cents per share, from $436 million, or 98 cents per share, last year.
- Operating earnings were 53 cents per share, compared to 81 cents per share, last year. Analysts expected to see EPS of 53 cents.
- Revenue rose to $5.943 billion from $5.848 billion in the year prior. Analysts expected to see revenue of $5.83 billion.
Mark Sutton, IP’s Chairman and CEO, commented: “As we enter 2015, a strengthening North American economy is helping to offset a global environment that remains challenged. With our focus on execution, IP expects to deliver another year of earnings growth and strong free cash flow.”
IP will pay its next 40-cent dividend on March 16. The stock will go ex-dividend on February 11.
Shares of IP were mostly flat during pre-market trading Wednesday.