International Paper Q2 Profit Falls, Adj. EPS Tops View - Quick Facts

(RTTNews) - Paper and packaging company International Paper (IP) Tuesday said second-quarter net earnings attributable to the company fell to $161 million from $259 million last year. Earnings per share dropped to $0.37 from $0.57.

Operating earnings were $0.95 per share, compared to $0.64 per share last year. On average, 16 analysts polled by Thomson Reuters expected earnings of $0.83 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales slipped to $7.213 billion from $7.335 billion in the prior year. Analysts expected revenues of $7.35 billion.

John Faraci, Chairman and Chief Executive Officer, said, "International Paper delivered strong results with increased volume and expanded margins in the face of relatively high input costs. As we move into the second half of the year, the company is well positioned to improve earnings and free cash flow generation for the balance of 2014, despite a challenging global environment."