International Paper Sets Sights on Streamlined Success: Beats Q2 EPS Estimates Amid Sales Challenges
Portfolio Pulse from Shivani Kumaresan
International Paper Co (NYSE:IP) reported Q2 FY24 sales growth of 1.1% to $4.73 billion, missing analyst estimates of $4.78 billion. Despite this, adjusted EPS of $0.55 beat expectations of $0.41. The company faces rising selling and administrative expenses and expects near-term challenges. Shares traded lower by 0.50%.
July 24, 2024 | 1:43 pm
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International Paper Co (NYSE:IP) reported Q2 FY24 sales growth of 1.1% to $4.73 billion, missing analyst estimates of $4.78 billion. Despite this, adjusted EPS of $0.55 beat expectations of $0.41. The company faces rising selling and administrative expenses and expects near-term challenges. Shares traded lower by 0.50%.
International Paper's Q2 sales missed analyst estimates, which is a negative indicator. Although EPS beat expectations, the rise in selling and administrative expenses and the CEO's comments about near-term challenges suggest potential difficulties ahead. This has led to a slight decline in share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100