International Paper Reports Solid Q4 Results, Record Operating Earnings

Printing Papers operating profits were $143 million (a loss of $47 million after special items) in the fourth quarter of 2013 versus $144 million ($93 million including special items) in the third quarter of 2013. North America experienced fixed cost penalties and lower sales volumes resulting from Courtland's partial shutdown in the quarter, partly offset by lower maintenance outages and improved sales price/mix. Brazil's results improved largely driven by higher volume and better mix from seasonally stronger demand. Europe was negatively impacted by higher outages, while India improved with stronger prices and volume, along with no maintenance outages in fourth quarter of 2013.