MEMPHIS, Tenn. — International Paper posted a net loss of $1.1 billion in the third quarter, the Memphis-based company reported Thursday.

The company's $6.2 billion in earnings fell 4% short of analysts expectations. The company said losses include $675 million of accelerated deprecation associated with mill closures.

"Our third quarter results reflect substantial progress on our transformation journey," said Chairman and CEO Andy Silvernail in a news release.

Silvernail said despite near-term headwinds, they remain confident in the company's trajectory.

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