Outage at Eastman's TX Facility Expected to Impact First-Quarter Earnings

Eastman Chemical says its Longview, TX olefins complex will be down following an equipment breakage that has interrupted production of certain products and intermediates. The company expects the outage to cut first-quarter 2010 earnings per share by about 20 cts-25 cts. The impact from the outage is expected to be offset by higher than forecasted sales volume and operating margin, Eastman says.  The company previously said it expects first-quarter earnings to be “only slightly higher” than fourth-quarter earnings of $1.14/share. Analysts estimate...

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