International Paper 2nd-quarter profit drops 40 percent
NEW YORK, July 26
NEW YORK, July 26 (Reuters) - International Paper Co said on Thursday its quarterly profit dropped 40 percent due in part to seasonal outage delays at several plants.
For the second quarter, the company said net earnings fell to $134 million, or 31 cents per share, from $219 million, or 51 cents per share, in the year-ago quarter.
Excluding one-time items, the company earned 46 cents per share.
Revenue rose 6.5 percent to $7.08 billion.
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