International Paper Co. reported Wednesday first-quarter earnings that rose to $334 million, or 81 cents a share, from $313 million, or 74 cents a share, in the same period a year ago. Operating earnings per share fell to 80 cents from 87 cents. The FactSet EPS consensus was 69 cents. Revenue fell to $5.11 billion from $5.52 billion, compared with the FactSet consensus of $5.20 billion, amid bigger-than-expected declines in industrial and consumer packaging sales. "Demand outlook is positive and we remain focused on productivity improvements, allocating capital to high return investments and generating free cash flow," said Chief Executive Mark Sutton. The stock, which was still inactive in premarket trade, has run up 15% year to date, while the S&P 500 has gained 2.3%.
Copyright © 2016 MarketWatch, Inc.