International Paper Company IP reported fourth-quarter sales of $4.601 billion, missing the analyst consensus of $4.674 billion.
Adjusted EPS of $0.41 beats the analyst consensus of $0.34.
Industrial Packaging net sales declined to $3.84 billion from $4.17 billion last year.
Industrial Packaging operating profits were $315 million versus $416 million in the prior quarter.
Global Cellulose Fibres net sales fell year over year to $656 million from $842 million.
“We executed well and delivered $260 million of Building a Better IP benefits, while accelerating cost reduction efforts across our operations and supply chain,” said Mark Sutton, Chairman, and Chief Executive Officer.
The company exited the quarter with cash and temporary investments worth $1.11 billion.
Also Read: International Paper Gearing Up For Recovery With Optimistic Containerboard Market Trends: Analyst
Price Action: IP shares are trading lower by 3.25% at $34.67 on the last check Thursday.
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