International Paper Q3 adjusted earnings Beat Estimates

(RTTNews) - International Paper (IP) revealed a profit for third quarter that declined from last year.

The company's profit came in at $344 million, or $0.87 per share. This compares with $562 million, or $1.37 per share, in last year's third quarter.

Excluding items, International Paper reported adjusted earnings of $431 million or $1.09 per share for the period.

Analysts had expected the company to earn $0.99 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 5.6% to $5.57 billion from $5.90 billion last year.

International Paper earnings at a glance:

-Earnings (Q3): $431 Mln. vs. $641 Mln. last year. -EPS (Q3): $1.09 vs. $1.56 last year. -Analysts Estimate: $0.99 -Revenue (Q3): $5.57 Bln vs. $5.90 Bln last year.