Eastman Chemical Q3 Profit Decreases, but beats estimates

Eastman Chemical (EMN) revealed a profit for third quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $301 million, or $2.46 per share. This compares with $351 million, or $2.57 per share, in last year's third quarter.

Excluding items, Eastman Chemical reported adjusted earnings of $250 million or $2.05 per share for the period.

Analysts on average had expected the company to earn $2.00 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 0.4% to $2.71 billion from $2.72 billion last year.

Eastman Chemical earnings at a glance (GAAP) :

-Earnings (Q3): $301 Mln. vs. $351 Mln. last year.
-EPS (Q3): $2.46 vs. $2.57 last year.
-Analyst Estimates: $2.00
-Revenue (Q3): $2.71 Bln vs. $2.72 Bln last year.

Next quarter EPS guidance: $1.10 - $1.40
Full year EPS guidance: $8.05 - $8.35

For comments and feedback contact: editorial@rttnews.com

Follow RTT