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With a market cap of $25.9 billion. International Paper Company (IP) is a leading global producer of renewable fiber-based packaging and pulp products. The company, headquartered in Memphis, Tennessee, operates manufacturing facilities across North America, Latin America, Europe, and North Africa.
IP is all set to announce its fiscal Q1 earnings results on Wednesday, Apr. 30. Ahead of this event, analysts predict IP’s profit to jump 129.4% year over year to $0.39 per share. The company has surpassed Wall Street's bottom-line estimates in three of the past four quarters while missing on one other occasion. Nevertheless, in the recent quarter, the company surpassed the consensus estimate by 71.4%.