International Paper Q3 Adj. EPS $0.64 Beats $0.58 Estimate, Sales $4.61B Miss $4.81B Estimate
Portfolio Pulse from Benzinga Newsdesk
International Paper (NYSE:IP) reported Q3 adjusted earnings of $0.64 per share, beating the analyst consensus estimate of $0.58 by 10.34%. However, the company's quarterly sales of $4.61 billion missed the analyst consensus estimate of $4.81 billion by 4.10%. This represents a 36.63% decrease in earnings and a 14.61% decrease in sales compared to the same period last year.
October 26, 2023 | 10:59 am
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International Paper's Q3 earnings exceeded expectations but sales fell short. The company's earnings and sales have decreased significantly compared to last year.
While International Paper beat earnings estimates, the miss on sales and the significant year-over-year decreases in both earnings and sales could have a mixed impact on the stock. Investors may be encouraged by the earnings beat, but concerned about the sales miss and overall decreases.
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