Eastman Chemical Q1 Profit Increases, Beats Estimates

Eastman Chemical Company

67.28 CHF -1.47%

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(RTTNews) - Eastman Chemical (EMN) revealed earnings for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $182 million, or $1.57 per share. This compares with $165 million, or $1.39 per share, last year.

Excluding items, Eastman Chemical reported adjusted earnings of $222 million or $1.91 per share for the period.

Analysts on average had expected the company to earn $1.89 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 0.9% to $2.290 billion from $2.310 billion last year.

Eastman Chemical earnings at a glance (GAAP) :

-Earnings: $182 Mln. vs. $165 Mln. last year. -EPS: $1.57 vs. $1.39 last year. -Revenue: $2.290 Bln vs. $2.310 Bln last year.