International Paper (IP) Beats Q1 Earnings, Revenues Miss - Tale of the Tape
With operations in North America, Europe, Latin America, Russia, Asia, and North Africa, International Paper Company (IP) is a premier paper and packaging firm. The company has divested its distribution business xpedx as part of its restructuring plans to increase focus on its core business. International Paper is likely to gain from its extensive geographic footprint, wide-ranging product portfolio and differentiated service platform.
IP has beaten estimates in three of the last four quarters, making for an average surprise of 4.79%. With the extent of competition intensifying over time, investors have been eagerly awaiting for the company’s latest earnings report.
Earnings estimate revisions for the quarter have seen a boost over the last month on improved demand scenario and strengthening North American economy. Currently, IP has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: IP beat on earnings. Our consensus called for EPS of $0.77, and the company reported EPS of $0.84.
Revenue: Revenues missed. IP posted revenues of $5,517 million, compared to our consensus estimate of $5,894 million.
Key Stats to Note: IP benefited from strong execution and cost control actions that boosted margins. Also, its North American Packaging businesses and the Ilim joint venture showed robust performance.
Stock Price: Shares prices remained flat in pre-market trading following the earnings beat at the time of writing.
Check back for our full write up on this IP earnings report later!
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