International Paper (IP) Q2 Earnings Beat, Dip Y/Y on Low Prices
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 24 2024
0mins
Source: NASDAQ.COM
Earnings Report: International Paper Company reported second-quarter 2024 adjusted earnings of 55 cents per share, exceeding estimates but down 7% year-over-year; net sales increased slightly to $4.7 billion despite lower prices impacting profits across segments.
Future Outlook and Acquisition: The company anticipates a decline in third-quarter earnings due to seasonal factors and higher costs, while progressing on the acquisition of DS Smith, expected to enhance its corrugated packaging business and generate significant cash synergies.
Analyst Views on SLVM
Wall Street analysts forecast SLVM stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SLVM is 61.67 USD with a low forecast of 53.00 USD and a high forecast of 75.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
2 Buy
1 Hold
0 Sell
Moderate Buy
Current: 51.370
Low
53.00
Averages
61.67
High
75.00
Current: 51.370
Low
53.00
Averages
61.67
High
75.00
About SLVM
Sylvamo Corporation is a paper company, which produces uncoated freesheet (UFS) for paper products such as cutsize and offset paper, as well as market pulp. The Company's segments include Europe, Latin America and North America. Europe segment produces a broad portfolio of uncoated freesheet papers for numerous uses and applications, and market pulp. The Company operates two integrated mills in the region, one in Saillat, France and one in Nymolla, Sweden. Its Saillat mill produces both paper and market pulp. Latin America segment is focused on uncoated freesheet paper and market pulp, supported by the management of approximately 250,000 acres of certified eucalyptus forestlands in Brazil. North America segment’s paper business manufactures uncoated freesheet papers at its mills in Eastover, South Carolina and Ticonderoga, New York. North America segment’s papers business comprises three product lines: Imaging Papers, Commercial Printing Papers and Converting Papers.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
