Eastman Chemical beats estimates as destocking trends abate, affirms FY profit outlook [Yahoo! Finance]
Eastman Chemical Company (EMN)
Last eastman chemical company earnings: 5/1 04:00 pm
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Source: Yahoo! Finance
The company's adjusted profit was $1.61 per share for the three months ended March 31, compared with analysts' average estimate of $1.43 per share, according to LSEG data. Chemical companies have been plagued by destocking for the past few quarters, but this trend is slowly coming to an end as companies are seeing demand levels pick up across the US, Europe and China. "In the first quarter, we were encouraged to see continued evidence that inventory destocking is complete across most of our key end markets", said CEO Mark Costa. The diversified chemicals company added that it expects to benefit from revenue and earnings generated at its Kingsport methanolysis facility, mostly in the second half of the year. Eastman Chemical's sales grew 4.5% sequentially to $2.31 billion, above average analysts' estimate of $2.29 billion. The company, which produces products that are used in a range of industries from consumer goods to the automotive industry, affirmed its full-year profit
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News
- Fatty Acid Market To Reach USD 55.5 Billion By 2032, Report By DataHorizzon Research [Yahoo! Finance]Yahoo! Finance
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- PVC Additives Market Size to Worth $10.7 Billion by 2032 | CAGR: 5.8%: AMR [Yahoo! Finance]Yahoo! Finance
- Eastman Chemical (NYSE: EMN) had its price target raised by analysts at Royal Bank of Canada from $100.00 to $104.00. They now have a "sector perform" rating on the stock.MarketBeat
EMN
Earnings
- 4/25/24 - Beat
EMN
Sec Filings
- 4/26/24 - Form 10-Q
- 4/25/24 - Form 8-K
- 4/9/24 - Form 4
- EMN's page on the SEC website