ntl Paper beats by $0.04, beats on revs (54.07)
- Reports Q1 (Mar) earnings of $0.60 per share, excluding non-recurring items, $0.04 better than the Capital IQ Consensus of $0.56; revenues rose 7.8% year/year to $5.51 bln vs the $5.44 bln Capital IQ Consensus.
- The year-over-year revenue increase was primarily due to the pulp business that was acquired in late 2016.
- "International Paper delivered a solid first quarter in the face of several challenges, including the digester incident at our Pensacola mill and higher input costs driven by a significant rise in OCC prices," said Mark Sutton, Chairman and Chief Executive Officer. "Given the market fundamentals across most of our businesses in combination with several IP commercial and operational initiatives, we expect improved results pointing to a particularly strong second half as well as positive momentum entering 2018. I remain very confident in IP's ability to generate significant year-over-year earnings growth and continued strong cash flow in 2017.