Eastman Beats Estimates, Forecasts 10% Profit Growth in 2012

Eastman Chemical’s adjusted earnings dropped 8%, but beat its own guidance and analysts’ consensus. The company posted net income of $158  million for its fiscal first quarter ended March 31, down from $240 million from the same year-ago quarter. Excluding certain items, including charges related to Eastman’s recent acquisition of Solutia, earnings fell 8%, to $1.22/share. Analysts’ consensus was for $1.13/share, as reported by Thomson Reuters (New York). Eastman had expected to post earnings of $1.05-$1.15/share for the quarter...

This information is only available to Chemical Week subscribers.

Forgot your user ID or password?
Click here to have it sent to you.

Email Address First Name Last Name

Not an IHS Chemical Week 24/7 member yet? Here's why you should be: Searchable online archive access of the last 2 years of Chemical Week. Print or digital magazine subscription Price and market change alerts Economic data and statistics Buyers' Guides Webcasts | whitepapers