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International Paper (IP) Beats Both Q2 Earnings & Revenues
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With operations in North America, Europe, Latin America, Russia, Asia, and North Africa, International Paper Company (IP - Free Report) is a premier paper and packaging firm. As part of its restructuring plans to increase focus on its core business, the company has divested its distribution business xpedx. The company has also inked a definitive agreement to sell its corrugated packaging business in China and Southeast Asia. IP is likely to gain from its extensive geographic footprint, wide-ranging product portfolio and a differentiated service platform.
IP has beaten estimates in each of the last trailing four quarters, making for an average surprise of 7.91%. As the extent of competition is increasing over time, investors have been eagerly awaiting for the company’s latest earnings report.
Currently, IP has a Zacks Rank #3 (Hold), but that could definitely change following the first-quarter 2016 earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below.
Earnings: IP beats on earnings. The Zacks Consensus Estimate called for EPS of 84 cents, and the company reported operating EPS of 92 cents.
Revenue: Revenues exceeded estimate. IP posted revenues of $5,322 million, compared with the Zacks Consensus Estimate of $5,267 million.
Key Stats to Note: During the quarter, IP inked a definite agreement with leading timberland owner Weyerhaeuser Co. to acquire the latter’s pulp business for $2.2 billion in cash. With a combined capacity of nearly 1.9 million metric tons of pulp, the transaction is likely to strengthen IP’s position in the global fluff pulp market and augment its operating cash flow. In addition, the company expects the acquisition to generate annual synergies of approximately $175 million by the end of 2018 along with a higher flexibility to manage a wide portfolio of products to meet customer needs through superior R&D capabilities and priceless patent portfolio.
Stock Price: Shares prices remained flat in pre-market trading following the earnings beat at the time of the write-up.
Check back our full write up on this IP earnings report later!
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International Paper (IP) Beats Both Q2 Earnings & Revenues
With operations in North America, Europe, Latin America, Russia, Asia, and North Africa, International Paper Company (IP - Free Report) is a premier paper and packaging firm. As part of its restructuring plans to increase focus on its core business, the company has divested its distribution business xpedx. The company has also inked a definitive agreement to sell its corrugated packaging business in China and Southeast Asia. IP is likely to gain from its extensive geographic footprint, wide-ranging product portfolio and a differentiated service platform.
IP has beaten estimates in each of the last trailing four quarters, making for an average surprise of 7.91%. As the extent of competition is increasing over time, investors have been eagerly awaiting for the company’s latest earnings report.
Currently, IP has a Zacks Rank #3 (Hold), but that could definitely change following the first-quarter 2016 earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below.
Earnings: IP beats on earnings. The Zacks Consensus Estimate called for EPS of 84 cents, and the company reported operating EPS of 92 cents.
INTL PAPER Price and EPS Surprise
INTL PAPER Price and EPS Surprise | INTL PAPER Quote
Revenue: Revenues exceeded estimate. IP posted revenues of $5,322 million, compared with the Zacks Consensus Estimate of $5,267 million.
Key Stats to Note: During the quarter, IP inked a definite agreement with leading timberland owner Weyerhaeuser Co. to acquire the latter’s pulp business for $2.2 billion in cash. With a combined capacity of nearly 1.9 million metric tons of pulp, the transaction is likely to strengthen IP’s position in the global fluff pulp market and augment its operating cash flow. In addition, the company expects the acquisition to generate annual synergies of approximately $175 million by the end of 2018 along with a higher flexibility to manage a wide portfolio of products to meet customer needs through superior R&D capabilities and priceless patent portfolio.
Stock Price: Shares prices remained flat in pre-market trading following the earnings beat at the time of the write-up.
Check back our full write up on this IP earnings report later!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>