BUZZ-International Paper falls on Q4 surprise loss, sales miss
ReutersJan 30, 2025 4:07 PM
Updates
Shares of packaging company International Paper IP.N down as much as 6% to $54.49
Company reports downbeat Q4 results due to 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
Company posts Q4 net sales of $4.58 bln, below analysts' estimates of $4.75 bln, and reports loss of 2 cents/shr, compared with ests of 2 cents profit, according to data compiled by LSEG
IP rose ~48% in 2024
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