International Paper Q1 Profit Decreases, misses estimates

(RTTNews) - International Paper (IP) released earnings for first quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line totaled $56 million, or $0.16 per share. This compares with $172 million, or $0.49 per share, in last year's first quarter.

Excluding items, International Paper reported adjusted earnings of $61 million or $0.17 per share for the period.

Analysts on average had expected the company to earn $0.22 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 8.0% to $4.62 billion from $5.02 billion last year.

International Paper earnings at a glance (GAAP) :

-Earnings (Q1): $56 Mln. vs. $172 Mln. last year. -EPS (Q1): $0.16 vs. $0.49 last year. -Revenue (Q1): $4.62 Bln vs. $5.02 Bln last year.