How did IP's Q1 2024 earnings surprise the market?

International Paper (IP) reported estimated EPS of $0.22 for Q1 2024, which is a notable figure considering the current market conditions and the company's historical performance. The estimated revenue for the same period was $4.56 billion.

These figures indicate that IP's earnings exceeded market expectations, which could be attributed to various factors such as market trends, company performance, or industry dynamics. The company's robust financial health and the recent adjustments in position by Chuck Royce, a prominent investor, may also have contributed to the positive earnings surprise. Overall, IP's Q1 2024 earnings reflect a strong financial performance, which is likely to have a positive impact on the company's market position and investor confidence.