Suzano (SUZ) reported Q2 earnings late Wednesday of about 1.45 Brazilian reais ($0.28) per diluted share, down from 4.04 reais a year earlier.

Three analysts surveyed by FactSet expected 1.36 reais.

Net sales for the quarter ended June 30 were 11.59 billion reais, down from 13.30 billion reais a year ago. Two analysts expected 12.76 billion reais.

Shares of the company added over 2% in Thursday premarket activity.