Eastman Chemical (EMN) revealed earnings for second quarter that Decreased from last year and missed the Street estimates.
The company's bottom line came in at $140 million, or $1.20 per share. This compares with $230 million, or $1.94 per share, last year.
Excluding items, Eastman Chemical reported adjusted earnings of $186 million or $1.60 per share for the period.
Analysts on average had expected the company to earn $1.75 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period fell 3.2% to $2.287 billion from $2.363 billion last year.
Eastman Chemical earnings at a glance (GAAP) :
-Earnings: $140 Mln. vs. $230 Mln. last year.-EPS: $1.20 vs. $1.94 last year.-Revenue: $2.287 Bln vs. $2.363 Bln last year.
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