International Paper reported at net loss in Q1 2010 of $162 million or 38 cents per share, compared with a profit of $257 million, or 61 cents per share, a year earlier. Net sales increased 2.5% to $5.81 billion for the quarter.
IP announced a net loss of $101 million, or 24 cents per share in Q4 2009 compared to a net loss of $1.79 billion or $4.25 per share in the previous year's quarter. Excluding items, the company said it would have earned 24 cents a share.
A Buckingham Research analyst upgraded the stock becasue of improving profit margins and increasing cash flow.
IP boughted WY's containerboard packaging and recycling business for $6 billion in cash.
International Paper Company’s stock price declined after the company announced that it may not meet analyst estimates in the third quarter. The company’s land sales were lower than expected because of which the company may not be able to meet analyst estimates. The company reduced its estimates for land sales earnings from $110-140 million to $100 million.