BUZZ - International Paper shares fall as third-quarter revenue misses expectations

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October 28 - ** Packaging company International Paper (IP.N) saw its share price fall as much as 6.6% in early trading, at $31.15

** The company’s third-quarter revenue missed expectations due to weak demand

** International Paper executives said in a conference call that inflation is putting pressure on consumers, especially middle- and low-income households

** Quarterly net sales were $6.20 billion, missing analysts’ estimates of $6.27 billion—data compiled by LSEG

** The company expects full-year core profit for its North American packaging business to be between $2.27 billion and $2.31 billion, and said it will not provide performance guidance for its Europe, Middle East, and Africa (EMEA) business as it is moving ahead with spinning the unit (link) off as a separate entity

** Third-quarter adjusted earnings per share were 37 cents, above the market expectation of 29 cents, driven by pricing measures and lower operating costs

** As of the last session close, IP shares have fallen about 15% year to date

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