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International Paper Q2 profit climbs 5.2% YOY

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International Paper Q2 profit climbs 5.2% YOY

International Paper Co. said its second-quarter normalized net income came to 79 cents per share, compared with the S&P Capital IQ consensus estimate of 92 cents per share.

EPS rose 7.8% year over year from 74 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $334.6 million, an increase of 5.2% from $318.0 million in the prior-year period.

The normalized profit margin rose to 5.9% from 5.4% in the year-earlier period.

Total revenue declined year over year to $5.71 billion from $5.90 billion, and total operating expenses declined year over year to $5.11 billion from $5.27 billion.

Reported net income rose 31.8% year over year to $227.8 million, or 54 cents per share, from $172.8 million, or 40 cents per share.