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International Paper Profit Falls, but Adjusted Net Still Beats; Revenue Misses (IP)

By Dividend.com,  April 27, 2012, 09:23:33 AM EDT

Paper products maker International Paper Company ( IP ) on Friday said its first quarter earnings fell significantly from last year.

The Memphis-based company reported first quarter net income of $188 million, or 43 cents per share, compared with $281 million, or 65 cents per share, in the year-ago period. Excluding special items, adjusted profit was 57 cents per share.

Revenue rose 4.6% from last year to $6.66 billion.

On average, Wall Street analysts expected a smaller profit of 50 cents per share, albeit on higher revenue of $6.79 billion.

International Paper shares rose 48 cents, or +1.4%, in premarket trading Friday.

The Bottom Line
Shares of International Paper ( IP ) have a 3.11% dividend yield, based on last night's closing stock price of $33.75. The stock has technical support in the $30-$32 price area. If the shares can firm up, we see overhead resistance around the $36-$37 price levels.

International Paper Company ( IP ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: IP



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