International Paper (IP) Q1 Earnings Beat On Higher Revenues
Zacks Investment Research | Apr 25, 2018 10:39PM ET
Paper and packaging firm, International Paper Company (NYSE:IP) , reported solid first-quarter 2018 financial results, with adjusted operating earnings of $395 million or 94 cents per share compared with $232 million or 56 cents per share in the year-ago quarter, largely driven by top-line growth. Operating earnings also exceeded the Zacks Consensus Estimate by 5 cents.
GAAP earnings for the quarter were $729 million or $1.74 per share compared with $209 million or 50 cents per share in the year-ago quarter.
Net sales improved to $5,621 million in the reported quarter from $5,132 million in the year-ago quarter, comfortably surpassing the Zacks Consensus Estimate of $5,430 million.
Total business segment operating profit in the reported quarter was $512 million compared with $414 million in first-quarter 2017. The significant year-over-year increase in operating profit was largely attributable to higher revenues.
International Paper Company Price, Consensus and EPS Surprise
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