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Eastman Doubles Profit, Raises Full-Year Earnings Outlook
3:44 PM MDT | July 30, 2010 | Nancy Seewald
Eastman Chemical’s second-quarter net earnings more than doubled, to $148 million, compared with the same period last year. Excluding $3 million in restructuring charges, earnings were $2.05/share, compared with 86 cts/share in the year-ago quarter and analysts’ consensus of $1.34/share, as reported by Thomson One (New York). Sales rose 38%, to $1.7 billion, on higher volumes and selling prices. Eastman’s coatings, adhesives, specialty polymers and inks (CASPI) division reported operating earnings up 96%, to $94 million, due to higher selling...
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