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International Paper shares slide after earnings decline year-over-year

Shares of International Paper shed more than 5 percent on Thursday after the company said earnings declined 16 percent year over year.

The paper company reported fourth-quarter operating earnings of 73 cents per share on revenue of $5.4 billion. Although revenue was flat compared to last year, that earnings per share figure is lower than the 87 cents International Paper reported last year.

The company, however, beat analyst expectations for earnings of 71 cents per share on revenue of $5.35 billion.

Recently, International Paper's Cantonment plant had a "digester" explode on January 22. A manufacturing process failure caused a mixture of wood fibers and pulp liquor to spew throughout the northern Florida county. According to a release by the company, International Paper will provide a payment to residents in the area affected by the explosion.

International Paper CEO Mark Sutton is slated to appear on CNBC's "Mad Money with Jim Cramer" at 6 p.m., ET on Thursday.

International Paper 5-Day performance