Eastman Chemical: Q4 Earnings Snapshot

Audio By Carbonatix

KINGSPORT, Tenn. (AP) — KINGSPORT, Tenn. (AP) — Eastman Chemical Co. (EMN) on Thursday reported fourth-quarter profit of $330 million.

On a per-share basis, the Kingsport, Tennessee-based company said it had net income of $2.82. Earnings, adjusted for non-recurring gains, came to $1.87 per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.58 per share.

The specialty chemicals maker posted revenue of $2.25 billion in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $2.26 billion.

For the year, the company reported profit of $905 million, or $7.67 per share. Revenue was reported as $9.38 billion.

Eastman Chemical expects full-year earnings to be $8 to $8.75 per share.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EMN at https://www.zacks.com/ap/EMN