Eastman Chemical (EMN) Tops Q4 EPS by 4c, Offers Outlook
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Revenue Growth %: -5.4%
Financial Fact:
Retained earnings at beginning of period: 5.52B
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Eastman Chemical (NYSE: EMN) reported Q4 EPS of $1.59, $0.04 better than the analyst estimate of $1.55. Revenue for the quarter came in at $2.23 billion versus the consensus estimate of $2.41 billion.
Outlook
Commenting on the outlook for full year 2016, Costa said: “We enter 2016 well positioned to benefit from our strong portfolio of specialty businesses which leverage world-class technology platforms to deliver solid growth in attractive end markets and accelerated earnings growth from our high value, innovative specialty products. However, we face increasing challenges including stagnant global economic growth, the collapse in the price of oil, and weakening currencies in Asia and Europe. In this environment, we are taking decisive actions to accelerate our innovation and market development activities and significantly increase our cost reduction efforts. Given current business conditions, we are driving hard to deliver 2016 earnings per share that approach 2015 earnings per share.” Non-core and any non-recurring items are excluded from the earnings per share projection.
For earnings history and earnings-related data on Eastman Chemical (EMN) click here.
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