International Paper Q3 adjusted earnings Miss Estimates

(RTTNews) - International Paper (IP) released earnings for its third quarter that increased from last year.

The company's earnings totaled $864 million, or $2.20 per share. This compares with $204 million, or $0.52 per share, in last year's third quarter.

Excluding items, International Paper reported adjusted earnings of $532 million or $1.35 per share for the period.

Analysts had expected the company to earn $1.45 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.5% to $5.71 billion from $5.12 billion last year.

International Paper earnings at a glance:

-Earnings (Q3): $532 Mln. vs. $280 Mln. last year. -EPS (Q3): $1.35 vs. $0.71 last year. -Analysts Estimate: $1.45 -Revenue (Q3): $5.71 Bln vs. $5.12 Bln last year.