International Paper Is Packaging Up Profits

"International Paper isn't a growth story," CEO John Faraci told Barron's. Faraci has led the packaging giant since 2003, transforming it to a global powerhouse. "It's about free cash flow."

The Memphis-based company is the world's leading producer of the containerboard used to make corrugated brown boxes in which 95% of all goods are shipped. And the company is seeing hopeful signs that the U.S. economy might be gaining steam. Sales in its industrial-packaging business were up 3% year over year in April, the best performance it has posted in more than three years.