International Paper Earnings Exceed Estimates In Q2 On Cost Management Strategies
Portfolio Pulse from Nabaparna Bhattacharya
International Paper Company's Q2 FY23 sales decreased by 13.1% YoY to $4.68 billion, missing the consensus of $4.90 billion. However, the adjusted EPS of $0.59 beat the analyst consensus of $0.38. The company's shares traded higher by 6.3% at $35.90.
July 27, 2023 | 4:33 pm
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International Paper's Q2 sales fell short of estimates but EPS beat expectations. Shares rose by 6.3%.
Despite a decrease in sales, International Paper's EPS beat analyst expectations, which likely contributed to the rise in the company's share price. The company's effective cost management strategies and operational efficiency may have played a role in this positive outcome.
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