International Paper Posts Q1 Loss; Adj. Profit Tops View, But Revenues Miss

(RTTNews) - International Paper Co. (IP) reported a first quarter 2014 net loss attributable to common shareholders of $95 million or $0.21 per share, compared to net income of $318 million or $0.71 per share in the first quarter of 2013. The latest-quarter result included a pre-tax charge of $495 million associated with the Courtland mill shutdown.

Operating earnings for the quarter were $265 million or $0.61 per share down from $292 million or $0.65 per share last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.55 per share for the quarter. Analysts' estimates typically exclude special items.

Quarterly net sales were $7.01 billion down from $7.09 billion last year. Wall Street expected revenues of $7.10 billion.