» Subscribe Today!
More of what you want to know.
The Daily News
X

Forgot your password?
Skip Navigation LinksHome >
VOL. 128 | NO. 20 | Wednesday, January 30, 2013

IP Beats Estimates, Sees Sales Rise Despite Earnings Dip

By Bill Dries

Print | Front Page | Email this story | Email reporter | Comments ()

International Paper Co. reported net earnings of $794 million in 2012, down from $1.3 billion in 2011.

But the Memphis-based company increased its net sales in 2012 to $27.8 billion compared to $26 billion the year before.

For the last three months of 2012, International Paper posted net earnings of $235 million compared to $281 million in the fourth quarter of 2011.

The earnings of 69 cents per share reported Tuesday, Jan. 29, excluding special items, was down from 73 cents a share a year ago. But it was ahead of the 65 cents per share predicted by analysts.

Net sales for IP were also up for the quarter at $7.1 billion compared to $6.4 billion in the last three months of 2011.

The net earnings for the quarter and the year reflect special items or one-time-only charges as well as pension expenses.

The fourth quarter special items included a pre-tax charge of $28 million related to International Paper’s acquisition and integration of Temple-Inland, an Austin, Texas-based paper company.

International Paper took another pre-tax $58 million charge in the third quarter of 2012 for integration costs from the Temple-Inland acquisition.

The fourth quarter is usually when IP schedules outages for maintenance at company facilities.

International Paper CEO John Faraci attributed the rise in sales for the quarter and for the year, in part, to the Temple-Inland acquisition.

Sign-Up For Our Free Email Edition
Get the news first with our daily email


 
Blog Get more from The Daily News
Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 86 313 4,762
MORTGAGES 97 409 6,640
FORECLOSURE NOTICES 34 147 1,475
BUILDING PERMITS 0 705 11,294
BANKRUPTCIES 53 311 4,525
BUSINESS LICENSES 41 177 1,983
UTILITY CONNECTIONS 64 436 6,253
MARRIAGE LICENSES 19 132 1,373

Weekly Edition

Issues | About

The Memphis News: Business, politics, and the public interest.