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International Paper profit misses consensus by 20.1% in Q4

International Paper Co. said its fourth-quarter normalized net income was 57 cents per share, compared with the S&P Capital IQ consensus estimate of 71 cents per share.

EPS declined 16.7% year over year from 68 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $237.1 million, a decrease of 16.8% from $285.0 million in the prior-year period.

The normalized profit margin fell to 4.4% from 5.2% in the year-earlier period.

Total revenue fell on an annual basis to $5.38 billion from $5.44 billion, and total operating expenses came to $4.91 billion, compared with $4.89 billion in the prior-year period.

Reported net income increased 23.5% on an annual basis to $220.4 million, or 53 cents per share, from $178.5 million, or 43 cents per share.

For the year, the company's normalized net income totaled $2.00 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $3.34.

EPS declined from $2.94 in the prior year.

Normalized net income was $830.1 million, a decline from $1.24 billion in the prior year.

Full-year total revenue declined from the prior-year period to $21.08 billion from $22.36 billion, and total operating expenses decreased year over year to $19.43 billion from $19.98 billion.

The company said reported net income declined on an annual basis to $910.2 million, or $2.19 per share, in the full year, from $937.9 million, or $2.23 per share.