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International Paper (IP) Lags Q3 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 8.93%. 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 #2 (Buy), but that could definitely change following the third-quarter 2016 earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below.
Earnings: IP missed on earnings. The Zacks Consensus Estimate called for EPS of 94 cents, and the company reported adjusted operating EPS of 91 cents.
Revenue: Revenue missed estimates. IP posted revenues of $5,266 million, compared with the Zacks Consensus Estimate of $5,303 million.
Key Stats to Note: During the quarter, IP saw a decline in revenues in most of its segments. The company plans on closing the Weyerhaeuser Co. deal in the fourth quarter. The acquisition is worth $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 did not show any change in the pre-market trading following the release at the time of this write-up.
Check back our full write up on this IP earnings report later!
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International Paper (IP) Lags Q3 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 8.93%. 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 #2 (Buy), but that could definitely change following the third-quarter 2016 earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below.
Earnings: IP missed on earnings. The Zacks Consensus Estimate called for EPS of 94 cents, and the company reported adjusted operating EPS of 91 cents.
Revenue: Revenue missed estimates. IP posted revenues of $5,266 million, compared with the Zacks Consensus Estimate of $5,303 million.
INTL PAPER Price and EPS Surprise
INTL PAPER Price and EPS Surprise | INTL PAPER Quote
Key Stats to Note: During the quarter, IP saw a decline in revenues in most of its segments. The company plans on closing the Weyerhaeuser Co. deal in the fourth quarter. The acquisition is worth $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 did not show any change in the pre-market trading following the release at the time of this write-up.
Check back our full write up on this IP earnings report later!