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Eastman beats estimates, reaffirms 2014 outlook

4:10 PM MDT | July 28, 2014 | Rebecca Coons

Eastman Chemical reports net earnings of $292 million, 9.8% higher year-on-year (YOY). Adjusted earnings of $1.92/share were 14.2% higher YOY and beat a $1.84/share consensus of analysts’ estimates compiled by Thomson Reuters (New York). Sales were flat at $2.5 billion. Excluding certain items, second-quarter 2014 operating earnings were $441 million, compared with $454 million for second quarter 2013, with the decline primarily due to lower specialty fluids and intermediates segment earnings. The previously announced unplanned shutdown at the Kingsport...

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