Eastman Profits Beat Consensus

Eastman Chemical’s third quarter results dropped 3%, to $165 million, as its July purchase of Sterling Chemicals resulted in a $7 million charge.  Excluding items related to acquisitions and restructuring, the company company posted earnings of $1.19/share, 7% higher than the same year-ago quarter and 8 cts/ahead of analysts’ consensus reported by Thomson Reuters (New York). Sales increased 20%, to $1.8 billion. Eastman’s CASPI segment, which produces chemicals for coatings, adhesives, specialty polymers, and inks, posted operating earnings...

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