Renewable fiber-based products supplier International Paper (IP) on Tuesday reported earnings from continuing operations of $171 million or $0.48 per share in the fourth quarter, higher than $49 million or $0.13 per share in the same quarter a year ago.
Excluding one-time items, adjusted operating earnings were $309 million or $0.87 per share.
Sales for the quarter increased to $5.133 billion from $5.086 billion last year.
Analysts on average, polled by Thomson-Reuters expected the company to report earnings of $0.69 per share on revenue of $5.19 billion for the quarter.
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