International Paper Company (NYSE:IP) shares gave up prior gains and are trading lower on Thursday. The company reported mixed earnings results and announced its plan to split into two public companies.
• International Paper stock is feeling bearish pressure. What’s behind IP decline?
Earnings Snapshot
International Paper reported a fourth-quarter loss of eight cents per share, missing the analyst estimate of EPS of 24 cents.
Meanwhile, sales of $6.01 billion exceeded the $5.93 billion consensus estimate.
Chairman and CEO Andy Silvernail commented, ”In North America, we grew above market in the second half of the year and delivered 37% year-over-year adjusted EBITDA improvement. In EMEA, we moved decisively and made …