Investing.com - International Paper reported on Thursday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
International Paper announced earnings per share of $0.76 on revenue of $5.24B. Analysts polled by Investing.com anticipated EPS of $0.5144 on revenue of $5.02B.
International Paper shares are down 9% from the beginning of the year and are trading at $49.27 , down-from-52-week-high.They are outperforming the S&P 500 which is down 12.22% from the start of the year.
International Paper shares gained 4.03% in pre-market trade following the report.
International Paper follows other major Materials sector earnings this month
International Paper's report follows an earnings missed by Vale ADR on Wednesday, who reported EPS of $0.93 on revenue of $10.81B, compared to forecasts EPS of $0.9476 on revenue of $12.09B.
Sherwin-Williams had beat expectations on Tuesday with first quarter EPS of $1.61 on revenue of $5B, compared to forecast for EPS of $1.54 on revenue of $4.91B.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar