International Paper Q2 Profit, Revenue Rise - Quick Facts

(RTTNews) - International Paper (IP) Thursday said profit in the second quarter increased from the prior year, amid better margins and seasonally stronger volumes.

Net earnings attributable to common shareholders increased to $259 million or $0.57 per share from $134 million or $0.31 per share in the prior-year period.

Operating earnings, which is net earnings from continuing operations excluding special items and non-operating pension expense, climbed to $0.64 from $0.53.

On average, 17 analysts polled by Thomson Reuters expected earnings of $0.56 per share for the quarter. Analysts' estimates typically exclude special items. Quarterly net sales improved to $7.34 billion from $7.1 billion in the second quarter of 2012. Analysts expected revenues of $7.42 billion.

John Faraci, CEO, said, ''International Paper delivered strong results this quarter. We expanded margins and benefited from seasonally stronger volumes and solid operating performance despite higher planned maintenance outage costs. As we move into the second half of the year, the company is well positioned to significantly improve earnings and free cash flow for the balance of 2013."