Investing.com - International Paper reported on Thursday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
International Paper announced earnings per share of $0.76 on revenue of $5.36B. Analysts polled by Investing.com anticipated EPS of $0.6265 on revenue of $5.33B.
International Paper shares are up 15% from the beginning of the year, still down 0.83% from its 52 week high of $58.14 set on April 28. They are outperforming the Nasdaq which is up 9.02% from the start of the year.
International Paper follows other major Basic Materials sector earnings this month
International Paper's report follows an earnings beat by Vale ADR on Tuesday, who reported EPS of $1.09 on revenue of $12.65B, compared to forecasts EPS of $1.06 on revenue of $13.04B.
Sherwin-Williams had beat expectations on Tuesday with first quarter EPS of $2.06 on revenue of $4.66B, compared to forecast for EPS of $1.64 on revenue of $4.51B.
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