International Paper Q4 Profit Falls 19% on Charges; Adjusted Net Beats, but Revenue Misses (IP)

By Staff,

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Paper and packaging maker International Paper Company ( IP ) on Thursday said its fourth quarter profit declined from last year due to special charges. While adjusted profit beat Wall Street expectations, its revenue totals fell short of analysts' view.

The Memphis-based company reported fourth quarter net income of $257 million, or 59 cents per share, compared with $316 million, or 74 cents per share, in the year-ago period. Excluding one-time items, adjusted profit was 66 cents per share.

Revenue fell 2.5% from last year to $6.37 billion.

On average, Wall Street analysts expected a smaller profit of 61 cents per share, albeit on higher revenue of $6.49 billion.

International Paper shares were mostly flat in premarket trading Thursday.

The Bottom Line
Shares of International Paper ( IP ) have a 3.35% dividend yield, based on last night's closing stock price of $31.38. The stock has technical support in the $28-$30 price area. If the shares can firm up, we see overhead resistance around the $34-$35 price levels.

International Paper Company ( IP ) is not recommended at this time, holding a 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 Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: IP

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