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International Paper Q3 profit climbs 6.3% YOY

International Paper Co. said its normalized net income for the third quarter was 81 cents per share, compared with the S&P Capital IQ consensus estimate of 91 cents per share.

EPS climbed 9.2% year over year from 74 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $339.4 million, an increase of 6.3% from $319.1 million in the prior-year period.

The normalized profit margin climbed to 6.0% from 5.3% in the year-earlier period.

Total revenue decreased 5.9% on an annual basis to $5.69 billion from $6.05 billion, and total operating expenses declined 5.8% on an annual basis to $5.01 billion from $5.32 billion.

Reported net income fell 34.6% on an annual basis to $221.3 million, or 53 cents per share, from $338.6 million, or 79 cents per share.