International Paper Reports Fourth-Quarter and 2012 Earnings:
International Paper reported preliminary full-year 2012 net earnings attributable to common shareholders totaling $794 million compared with $1.3 billion in full-year 2011. In the fourth quarter of 2012, the company reported net earnings of $235 million compared with $281 million in the fourth quarter of 2011. Amounts in all periods include special items and non-operating pension expense. Annual sales totaled $27.8 billion in 2012 compared with $26.0 billion in 2011. Quarterly net sales were $7.1 billion in the fourth quarter compared with $6.4 billion in the fourth quarter of 2011.
Full-year 2012 business segment operating profits were $2.0 billion compared with $2.2 billion in 2011. Business segment operating profits in the fourth quarter were $528 million compared with $577 million in 2011, both of which included special items. "Our success capturing merger benefits from the Temple-Inland acquisition contributed to our fourth quarter results and IP's record cash generation from operations in 2012," said John Faraci, Chairman and Chief Executive Officer. "Given our runway levers and ability to execute, we are positioned to deliver a step-change in earnings as we move through 2013."
-Printing Papers operating profits were $147 million (before and after special items) in the fourth quarter of 2012 versus $201 million ($202 million including special items) in the third quarter of 2012. North American operations were impacted by higher planned outage-related maintenance expenses, seasonally lower sales and lower average sales price for paper, particularly in export markets. Europe's results were stronger quarter over quarter mainly from lower planned maintenance expenses.
