09:37 AM EDT, 04/25/2024 (MT Newswires) -- International Paper ( IP ) shares were down 2.7% in early Thursday trading after the company reported Q1 adjusted operating earnings of $0.17 per diluted share, down from $0.53 a year earlier.

Analysts polled by Capital IQ expected $0.22.

Net sales for the quarter ended March 31 were $4.62 billion, down from $5.02 billion a year earlier.

Analysts surveyed by Capital IQ expected $4.50 billion.

Price: 33.50, Change: -0.93, Percent Change: -2.70