=Eastman Chemical (EMN) reported earnings on Thur 24 Oct 19 (a/h)

 Eastman Chemical misses by $0.04, misses on revs; lowers FY19 guidance

Reports Q3 (Sep) earnings of $1.94 per share, excluding non-recurring items, $0.04 worse than the S&P Capital IQ Consensus of $1.98; revenues fell 8.7% year/year to $2.33 bln vs the $2.36 bln S&P Capital IQ Consensus.

Co lowers guidance for FY19 to EPS of $7.00-7.20, prior $7.50-8.00 vs. $7.60 S&P Capital IQ Consensus. "We have increased new business revenue from innovation, particularly in the Advanced Materials segment, as well as continued to aggressively manage costs. However, we have seen business conditions worsen due to global trade uncertainty and other macro factors. As a result, we are now expecting lower sales volume and lower capacity utilization in the fourth quarter. Taking all of this together, assuming the current economic conditions continue, we expect 2019 adjusted EPS to be between $7.00 and $7.20 and free cash flow to approach $1.1 billion."

-=Eastman Chemical (EMN) reported earnings on Thur 26 Oct 2017 (a/h)

• Eastman Chemical tops Street 3Q forecasts

KINGSPORT, Tenn. (AP) _ Eastman Chemical Co. (EMN) on Thursday reported third-quarter net income of $323 million.

On a per-share basis, the Kingsport, Tennessee-based company said it had net income of $2.22. Earnings, adjusted for non-recurring gains, came to $2.19 per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.03 per share.

The specialty chemicals maker posted revenue of $2.47 billion in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $2.39 billion.

Eastman Chemical shares have increased 21 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 14 percent. In the final minutes of trading on Thursday, shares hit $91.04, a climb of 36 percent in the last 12 months.

Eastman Chemical (EMN) reported earnings on Thur 28 Jul 2016 (a/h)

** charts before earnings **

 

 ** charts after earnings **

Eastman Chemical misses by $0.05, misses on revs  :

• Reports Q2 (Jun) earnings of $1.68 per share, excluding non-recurring items, $0.05 worse than the Capital IQ Consensus of $1.73; revenues fell 9.3% year/year to $2.3 bln vs the $2.36 bln Capital IQ Consensus.

Outlook:

• "During the first half of the year, we delivered strong growth of high value, innovative specialty products and we expect that to continue. We are also benefitting from the actions we have taken to accelerate our innovation and market development activities and to significantly increase our cost reduction efforts. However, the challenges we face have intensified including increasing competitive pressures particularly from the Asia Pacific region and compressing olefin spreads. As a result, we expect a decline in adjusted 2016 earnings per share that approaches 10% below adjusted 2015 earnings per share compared with our previous expectation of a decline of ~5%."