Wausau Paper Corp. (NASDAQ:WPP) reported its results for the second quarter. Wausau Paper Corporation manufactures, converts, and sells paper and paper products within three main segments: Specialty Products, Printing & Writing, and Towel & Tissue.
Wausau Paper Corp Earnings Cheat Sheet for the Second Quarter
Results: Net income for Wausau Paper Corp. fell to $3.2 million (7 cents per share) vs. $5.6 million (11 cents per share) a year earlier. This is a decline of 42% from the year earlier quarter.
Revenue: Rose 0.6% to $267.1 million from the year earlier quarter.
Actual vs. Wall St. Expectations: WPP reported adjusted net income of 8 cents per share. By that measure, the company beat the mean estimate of 7 cents per share. Analysts were expecting revenue of $264.9 million.
Gross margin shrank 1.6 percentage points to 9.9%. The contraction appeared to be driven by increased costs, which rose 2.4% from the year earlier quarter while revenue rose 0.6%.
The company topped expectations last quarter after falling short of forecasts in the first quarter with net income of 3 cents versus a mean estimate of net income of 5 cents per share.
Revenue rose last quarter after seeing a drop the quarter before. Revenue fell 2.7% to $248.9 million in the first quarter from the year earlier.
Competitors to Watch: Neenah Paper, Inc. (NYSE:NP), International Paper Co. (NYSE:IP), Domtar Corp. (NYSE:UFS), P.H. Glatfelter Company (NYSE:GLT), Verso Paper Corp. (NYSE:VRS), Boise Inc. (NYSE:BZ), Clearwater Paper Corp (NYSE:CLW), Schweitzer-Mauduit Intl., Inc. (NYSE:SWM), and Sappi Limited (NYSE:SPP).
(Source: Xignite Financials)