International Paper reported preliminary full-year 2011 net earnings attributable to common shareholders totaling $1.3 billion ($3.07 per share) compared with $644 million ($1.48 per share) in full-year 2010. In the fourth quarter of 2011, the company reported net earnings of $257 million ($0.59 per share) compared with $316 million ($0.73 per share) in the fourth quarter of 2010. Amounts in all periods include special items.
Full-year 2011 earnings from continuing operations and before special items were $1.4 billion ($3.10 per share) compared with $890 million ($2.05 per share) in 2010. Earnings from continuing operations and before special items in the fourth quarter of 2011 totaled $288 million ($0.66 per share) compared with $296 million ($0.68 per share) in the fourth quarter of 2010.
Annual sales totaled $26.0 billion in 2011 compared with $25.2 billion in 2010. Quarterly net sales were $6.4 billion in the fourth quarter compared with $6.5 billion in the fourth quarter of 2010.
Full-year 2011 operating profits were $2.2 billion compared with $1.7 billion in 2010. Operating profits in the fourth quarter were $577 million compared with $561 million in 2010, both of which included special items.
Full year EBITDA margins improved 100 basis points over 2010, before special items.
“Margin expansion across our global operations, as well as growth in emerging markets, contributed to a solid fourth quarter and drove IP’s performance throughout 2011,” said John Faraci, Chairman and Chief Executive Officer. “International Paper has consistently delivered strong results for the sixth consecutive quarter since the global downturn, generating our best financial results in nearly two decades. Sustaining positive momentum in an uneven global economy is challenging, but over the course of the full year ahead we remain confident in our ability to continue to execute at a high level.”
