Fourth Quarter & Full-Year 2023 Earnings Forward-Looking Statements Certain statements in this presentation that are not historical in nature may be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of forward-looking or conditional words such as “expects,” “anticipates,” “believes,” “estimates,” “could,” “should,” “can,” “forecast,” “intend,” “look,” “may,” “will, “remain,” “confident,” ...

Financial Data and Key Metrics Changes - In 2023, the company faced a challenging market environment, resulting in lower revenues and earnings compared to prior periods due to reduced demand and declining sales prices [6][7] - Operating earnings per share for Q4 2023 was $0.41, down from $0.64 in Q3 2023, primarily due to lower price and mix [9][10] - Free cash flow for the year included a one-time cash use of approximately $200 million related to timber monetization actions [7] Business Line Data and Key Metrics Changes - In the Industrial Packaging segment, price and mix were lower due to index movements and lower export prices, but volume was higher despite one less shipping day [11][12] - The Global Cellulose Fibers segment saw lower price and mix due to index movements, with volume remaining flat overall as higher demand for fluff and specialty pulp was offset by lower sales of commodity grades [17][18] Market Data and Key Metrics Changes - U.S. box shipments in Q4 2023 were up approximately 3% sequentially, indicating a recovery in demand since the trough in March 2023 [13] - Demand for kraft containerboard improved through Q4, with inventories normalizing across all regions [16] Company Strategy and Development Direction - The company is focused on improving profitability across its portfolio, with strategies in place to enhance margins and align with customer needs [5][20] - The go-to-market strategy emphasizes value over volume, aiming to improve margins and mix by investing in capabilities [25][26] Management's Comments on Operating Environment and Future Outlook - Management expects continued demand recovery across markets in 2024, with a projected growth of approximately 3% in packaging and fluff pulp markets [19][20] - The first quarter of 2024 is anticipated to be an earnings trough due to seasonally low volumes and higher costs [19][23] Other Important Information - The company returned approximately $840 million to shareholders in 2023 and remains committed to its dividend [32] - Capital investments between $800 million and $1 billion are planned for general maintenance and enhanced capabilities in the box business [21] Q&A Session Summary Question: Is much of the value over volume strategy locked up contractually? - Management indicated that the strategy is holistic and involves improving customer relationships and articulating value, rather than simply walking away from lower-margin business [36][37] Question: Can the $68 million tailwind for Q1 be annualized? - Management confirmed that annualizing the $68 million impact is reasonable, but emphasized that customer relationships and contract timing vary [40][41] Question: What is the outlook for EBITDA and free cash flow in 2024? - Management refrained from providing specific guidance due to numerous variables but expressed confidence in earnings and cash flow [44] Question: How did the January freeze impact shipments? - The January freeze had a significant impact, but management believes it will not affect forecasts for Q1 [78] Question: What percentage of contracts have been renegotiated? - Approximately one-third of contracts have not been renegotiated, with ongoing discussions about value and pricing [61]

International Paper Company (IP) reported fourth-quarter 2023 adjusted earnings of 41 cents per share, surpassing the Zacks Consensus Estimate of 34 cents by a margin of 21%. The bottom line slumped 53% year over year due to a decline in volumes in each of the categories, barring containerboard as well as lower prices in both Industrial Packaging and Global Cellulose Fibers.Including one-time items, the company posted a loss per share of 82 cents from continuing operations in fourth-quarter 2023 against ear ...

For the quarter ended December 2023, International Paper (IP) reported revenue of $4.6 billion, down 10.4% over the same period last year. EPS came in at $0.41, compared to $0.87 in the year-ago quarter.The reported revenue represents a surprise of -1.91% over the Zacks Consensus Estimate of $4.69 billion. With the consensus EPS estimate being $0.34, the EPS surprise was +20.59%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall S ...

International Paper (IP) came out with quarterly earnings of $0.41 per share, beating the Zacks Consensus Estimate of $0.34 per share. This compares to earnings of $0.87 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 20.59%. A quarter ago, it was expected that this global paper and packaging company would post earnings of $0.59 per share when it actually produced earnings of $0.64, delivering a surprise of 8.47%.Over the last ...

Core Viewpoint - International Paper Company (IP) is expected to report a significant decline in both sales and earnings for the fourth quarter of 2023, reflecting ongoing challenges in the packaging market due to inflationary pressures and changing consumer demand [2][4]. Q4 Estimates - The Zacks Consensus Estimate for IP's fourth-quarter sales is $4.68 billion, indicating an 8.8% decrease from the same quarter last year [2]. - The consensus estimate for earnings is 34 cents per share, representing a year-over-year decline of 61% [2]. - Earnings estimates have remained unchanged over the past 30 days [2]. Q3 Performance - In the last reported quarter, International Paper experienced a year-over-year decline in earnings due to lower revenues, with the top line missing the Zacks Consensus Estimate while the bottom line exceeded it [3]. - The company has surpassed the consensus estimate in each of the last four quarters, achieving an average earnings surprise of 20.8% [3]. Factors to Note - Weak packaging demand has been observed, influenced by inflationary pressures that have shifted consumer priorities towards non-discretionary goods [4]. - Customers and the retail channel are working to reduce elevated inventories, leading to declines in corrugating packaging and containerboard volumes [4]. - A slight pickup in volumes is projected for the fourth quarter, with corrugating packaging volumes estimated at 2,454 thousand short tons (up 0.4% year-over-year) and containerboard volumes at 600 thousand short tons (up 9.9% year-over-year) [4]. Industrial Packaging Segment - The Industrial Packaging segment is expected to see year-over-year volume growth in recycling (0.1%), Saturated Kraft (0.3%), and Gypsum/Release Kraft (0.2%) [5]. - Overall volumes for the Industrial Packaging segment are projected at 4,051 thousand short tons, indicating a 1.7% growth from the prior-year quarter [5]. - However, lower prices are anticipated to offset the impact of higher volumes, with average realized pricing expected to decline by 8.8% year-over-year [6]. - Revenues for the Industrial Packaging segment are projected to decrease by 7.2% year-over-year to $3,867 million, with operating profit expected to plunge 45% year-over-year to $229 million [6]. Global Cellulose Fibers Business - The Global Cellulose Fibers business is experiencing solid consumer demand for absorbent pulp products, with volumes expected at 714 thousand metric tons (up 0.5% year-over-year) [7]. - Pricing is anticipated to decline by 18.9% year-over-year, leading to an estimated revenue drop of 18.5% to $686 million for the fourth quarter [7]. - The segment's operating profit is projected to decline by 79% from the prior-year level to $7.3 million due to higher costs and maintenance outage expenses [7]. Earnings Prediction - The model predicts an earnings beat for International Paper, supported by a positive Earnings ESP of +1.74% and a Zacks Rank of 1 (Strong Buy) [8]. Price Performance - Shares of International Paper have decreased by 0.6% over the past year, contrasting with the industry's growth of 6.4% [9].

Wall Street analysts expect International Paper (IP) to post quarterly earnings of $0.34 per share in its upcoming report, which indicates a year-over-year decline of 60.9%. Revenues are expected to be $4.68 billion, down 8.8% from the year-ago quarter.Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Ahead of a company's earnings disclosure, it is crucial ...

The market expects International Paper (IP) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended December 2023. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on February 1, 2024, might help the stock move higher if these key numb ...

MEMPHIS, Tenn., Jan. 9, 2024 /PRNewswire/ -- International Paper (NYSE: IP) today declared a quarterly dividend of $0.4625 per share for the period from January 1, 2024, to March 31, 2024, inclusive, on the common stock, par value $1.00, of the Company, payable on March 15, 2024, to holders of record at the close of business on February 22, 2024. Today, the company also declared a quarterly dividend of $1.00 per share for the period from January 1, 2024, to March 31, 2024, inclusive, on the cumulative $4.00 ...

Group 1 - Outfront Media Inc. (OUT) is a leading provider of out-of-home (OOH) advertising space in key markets, with a Zacks Consensus Estimate for its current year earnings increasing by 0.6% over the last 60 days [1] - Outfront Media has a Zacks Rank of 1 and offers a dividend yield of 8.5%, significantly higher than the industry average of 4.3% [1] - International Paper Company (IP) specializes in renewable fiber-based packaging and pulp products, with a Zacks Consensus Estimate for its next year earnings increasing by 0.5% over the last 60 days [1] Group 2 - International Paper has a Zacks Rank of 1 (Strong Buy) and provides a dividend yield of 5.1%, compared to the industry average of 2.3% [1]