Benzinga
International Paper Q2 Earnings Top Estimates
International Paper Co (NYSE: IP) reported second-quarter FY22 sales growth of 12.9% year-on-year to $5.39 billion, beating the consensus of $5.36 billion. Net sales from Industrial Packaging rose 11.4% Y/Y, Global Cellulose Fibres grew 15.9%, and Corporate and Inter-segment jumped 83.3%. Adjusted EPS of $1.24 beat the analyst consensus of $1.08. Business segment operating income for the quarter rose 50% to $585 million, with the margin at 10.9%. The company held $826 million in cash and equival