Eastman Chemical Co reports results for the quarter ended in March - Earnings Summary

Eastman Chemical Co

26/04/2024 02:52

* Eastman Chemical Co  EMN.N  reported quarterly adjusted
earnings
of $1.61​​ per share for the quarter ended in March, lower than
the same quarter last year, when the company reported EPS of
$1.63.  The mean expectation of nineteen analysts for the
quarter was for earnings of $1.43 per share. Wall Street
expected results to range from $1.33  to $1.64 per share.
    * Revenue fell 4.2% to $2.31 billion from a year ago;
analysts
expected $2.29 billion. 
    * Eastman Chemical Co's reported EPS for the quarter was
$1.39​.
    * The company reported quarterly net income of $165 million.
    * Eastman Chemical Co shares had fallen by 3.9% this
quarter and
gained 7.3% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 14.2%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 8 "strong buy" or "buy," 13
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the diversified
chemicals peer group is also "buy"

Wall Street's median 12-month price target for Eastman Chemical
Co is $101.00 
This summary was machine generated from LSEG data April 26 at
01:52 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      1.43           1.61           Beat
 Dec. 31 2023      1.30           1.31           Beat
 Sep. 30 2023      1.44           1.47           Beat
 Jun. 30 2023      1.93           1.99           Beat