Eastman Chemical shares sink, Q1 rev, Q2 EPS forecast miss Street

Eastman Chemical Co

25/04/2025 17:57

** After quarterly report late Thursday, shares in Eastman Chemical Co EMN.N down ~5.7% on Friday, leading declines in S&P 500 materials sector .SPLRCM, which, down 1%, was the biggest decliner among the benchmark's 11 major sectors

** EMN Q1 adj EPS of $1.91 was ahead of mean est of $1.89, but rev of $2.29 bln missed consensus expectation for $2.33 bln

** Also EMN forecast Q2 adj EPS of $1.70-$1.90 vs Street expectations for $2.18 and said would curtail expenses amid market volatility due to uncertainty around U.S. President Donald Trump's tariff plans

** EMN stock sharply underperforming LyondellBasell LYB.N, another chemical co, down 0.4%, after it missed Street quarterly profit view with lower volumes in segment supplying materials to automotive, construction, electronics sector

** On Thursday, peer Dow DOW.N said it expects extended pressure on earnings due to trade policy uncertainty. Dow, ~flat on Friday having risen 2.6% on Thursday

** EMN last traded at $76.34 vs median PT of $105, down from $112 a month ago, according to LSEG which shows 21 analysts covering the co with 5 'strong buy,' 8 'buy' and 8 'hold' recommendations

** YTD shares in EMN down 11.5% vs ~2% drop for SPLRCM

 (Reporting By Sinéad Carew)

 ((sinead.carew@thomsonreuters.com; +13322191897;))