International Paper Stock Gains On Solid Q4 Bottom-Line Beat

International Paper Co IP reported fourth-quarter FY22 sales growth of 1% year-on-year to $5.13 billion, missing the consensus of $5.19 billion.
Net sales from Industrial Packaging declined 2% Y/Y, Global Cellulose Fibres rose 17.4%, and Corporate and Inter-segment rose 7%.
Adjusted EPS of $0.87 beat the analyst consensus of $0.69.
Business segment operating income for the quarter rose 8.7% to $451 million.
The company held $804 million in cash and equivalents as of Dec. 31, 2022. Cash provided by operating activities during the quarter totaled $761 million, with a free cash flow of $439 million.
Mark Sutton, Chairman and CEO said, "Our commercial and mill operational performance was solid, while significant inflation and lower demand impacted margins."
Price Action: IP shares traded higher by 9.31% at $41.31 on the last check Tuesday.

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