CORRECTED-BUZZ-International Paper falls on Q4 surprise loss, sales miss
ReutersJan 30, 2025 3:53 PM
Corrects headline to say company reported Q4 results, not Q3
Shares of packaging company International Paper IP.N down 2.6% at $56.50 premarket
Co reports downbeat Q4 results on slowing demand for its products including industrial packaging, especially in North America
Depreciation charges from the previously announced closure of the Georgetown, South Carolina pulp mill, alongside increased selling and administrative costs took a toll on earnings, causing a surprise loss
Posts Q4 net sales of $4.58 billion, below analysts' estimates of $4.75 billion, and reports loss of 2 cents per share, compared with estimates for 2 cents profit- data compiled by LSEG
IP rose ~48% in 2024
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