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International Paper profit misses consensus by 17.9% in Q1

International Paper Co. said its normalized net income for the first quarter was 66 cents per share, compared with the S&P Capital IQ consensus estimate of 80 cents per share.

EPS increased 38.6% year over year from 47 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $277.6 million, an increase of 34.9% from $205.9 million in the year-earlier period.

The normalized profit margin climbed to 5.0% from 3.6% in the year-earlier period.

Total revenue fell on an annual basis to $5.52 billion from $5.72 billion, and total operating expenses decreased from the prior-year period to $4.97 billion from $5.22 billion.

Reported net income totaled $313.5 million, or 74 cents per share, compared with a loss of $87.1 million, or a loss of 20 cents per share, in the prior-year period.