Thu October 24, 2013
International Paper Third Quarter Earnings
International Paper today reported an increase of 61% in its third quarter earnings compared to the same period last year…and company officials are expressing optimism that some recent trends in the fast food industry will bode well for IP over the next few years. The Memphis-based company with plants in six Kentucky cities posted a profit for the last three months of 382-million dollars.
Chief Financial Officer Carol Roberts says the firm turned in a solid performance and stands to benefit from decisions by McDonalds and Dunkin Donuts to stop using foam cups. Roberts says McDonalds is planning to convert to paper cups in all of its 14,000 U.S. locations…
Roberts says those moves could result in additional demand for three to four-billion paper cups. She says International Paper is well-positioned to meet those needs. IP has mills in Maysville, Lexington, Louisville, Richwood, Bowling Green and Henderson.