WASHINGTON (dpa-AFX) - International Paper Company (IP), Thursday reported a loss of $426 million or $0.81 a share from continuing operations in the third quarter compared to earnings of $75 million or $0.14 a share last year.
On average, analysts estimated earnings of $0.56 a share for the quarter.
Adjusted operating loss stood at $0.43 a share compared with adjusted operating earnings of $0.33 a share in the prior year.
Net sales increased to $6.222 billion from $3.979 billion in the previous year.
In the pre-market hours, IP is trading at $39.73, down 10.14 percent on the New York Stock Exchange.
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