International Paper Profit Doubles but Top Line Slips 13% (IP)

10/28/2009- International Paper (NYSE:IP) reported Q3 EPS of 37 cents, ex-items, topping consensus estimates of 24 cents. Revenues in the quarter fell 13.1% year-over-year to $5.92 billion, but came in ahead of consensus estimates of $5.89 billion.

"At the end of the third quarter, we began to see some modest improvements in demand in some segments of our paper and packaging businesses," said Chairman and CEO John Faraci. "We expanded margins year-over-year and continued to deliver strong cash flow and pay down debt, and I'm confident we're in position to benefit as the economy continues to slowly recover."

Write to Chip Brian at cbrian@tradethetrend.com

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