Investing.com - International Paper reported on Thursday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.
International Paper announced earnings per share of $1.24 on revenue of $5.39B. Analysts polled by Investing.com anticipated EPS of $1.08 on revenue of $5.35B.
International Paper shares are down 20% from the beginning of the year, still down 29.42% from its 52 week high of $60.39 set on September 3, 2021. They are under-performing the S&P 500 which is down 15.58% from the start of the year.
International Paper shares gained 0.89% in pre-market trade following the report.
International Paper follows other major Materials sector earnings this month
International Paper's report follows an earnings missed by Sherwin-Williams on Wednesday, who reported EPS of $2.41 on revenue of $5.87B, compared to forecasts EPS of $2.77 on revenue of $6.03B.
Ecolab had matched expectations on Tuesday with second quarter EPS of $1.1 on revenue of $3.58B, compared to forecast for EPS of $1.1 on revenue of $3.49B.
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