IHS Chemical Week

People & Business :: Earnings/Finance

Eastman beats estimates

6:17 PM MST | January 30, 2014 | Rebecca Coons

Strong sales of Tritan copolyester and fibers helped Eastman Chemical offset weak adhesives results and higher propane costs and swing to profit in its fiscal fourth quarter. The company reports net earnings of $346 million, compared with a loss of $54 million in the year-ago quarter. Adjusted earnings of $1.35/share, beating a consensus of analysts’ estimates compiled by Thomson Reuters (New York) by 10 cts. Sales increased 4.4% year-on-year (YOY), to $2.3 billion, due primarily to higher sales volume in the additives and functional Products, advanced...

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