Why International Paper Shares Are Falling Today
Portfolio Pulse from Nabaparna Bhattacharya
International Paper Company (NYSE:IP) reported Q4 sales of $4.601 billion, missing analyst expectations of $4.674 billion, but adjusted EPS of $0.41 beat the consensus of $0.34. Industrial Packaging and Global Cellulose Fibres net sales declined year over year, with operating profits also decreasing. The company highlighted $260 million in cost reductions and exited the quarter with $1.11 billion in cash and temporary investments. Shares fell by 3.25% to $34.67.
February 01, 2024 | 5:01 pm
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International Paper reported lower than expected Q4 sales but beat EPS estimates. Sales in key segments declined, and shares dropped 3.25%.
The miss on sales expectations and the decline in sales in key business segments likely contributed to the negative investor sentiment, leading to a drop in share price. However, the beat on EPS and the emphasis on cost reductions provide some positive outlook.
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