On Tuesday, investors gave earnings from International Paper somewhat of a Bronx cheer, with shares declining about 1.5 percent after the release.

The reaction was somewhat unexpected.

The company reported higher than expected profits citing increased demand in both the United States and Europe.

Looking at the numbers, the company posted a net income of $161 million, or 37 cents per share, however, excluding a charge to repay debt early, a charge to close an Alabama paper mill and other one-time items, earnings were 95 cents per share.

By that measure, analysts expected a profit of 83 cents per share, according to Thomson Reuters I/B/E/S.

The Street's lack of enthusiasm for shares may stem from the company's revenue numbers which showed revenue fell to $7.21 billion from $7.34 billion. Analysts expected $7.35 billion.

Nonetheless, "This was our best second quarter in 10 years. And we're not done," IP Chief Executive Officer John Faraci told "Mad Money."

Jim Cramer has been a fan of for a long-time. He first got behind the stock in September of 2009 and since that time, shares have generated a return of about 160 percent.

Over the same period the S&P 500 has gained about 100 percent.

If you have a long-term outlook, then the decline may present a buying opportunity. In part, that's because IP may become a play on the environment. "There's a secular trend underway," Cramer explained. "Paper is making an environmental leap over plastic and foam."

"It certainly is in our food service business," added Faraci, confirming that the public is, in fact, actively seeking items such as paper cups over Styrofoam cups or paper containers instead of plastic containers.

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"I think these were pretty solid results; if International Paper hadn't run up into the quarter, then today's action might have been different. With a company like IP, there are still plenty of ways to win," Cramer said.

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