Eastman Chemical Co. (EMN) Thursday reported first-quarter net earnings of $247 million or $1.57 per share, up from $158 million or $1.12 per share last year.
Adjusted earnings for the quarter rose to $1.62 per share from $1.22 per share last year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.57 per share for the quarter. Analysts' estimates typically exclude special items.
Sales revenues for the quarter grew to $2.31 billion from $1.82 billion last year. Analysts estimated revenues of $2.37 billion for the quarter.
Moving ahead, the company continues to expect full year 2013 earnings of $6.30 to $6.40 per share. Analysts currently estimate earnings of $6.41 per share for the year.
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