Eastman Chemical (EMN) Reports Q4 Revenue of $2.36B, Beating Views

Eastman Chemical (NYSE: EMN) reported Q4 EPS of $1.62, $0.56 better than the analyst estimate of $1.06. Revenue for the quarter came in at $2.36 billion versus the consensus estimate of $2.24 billion.

Fourth-quarter 2017 adjusted earnings excludes non-core and unusual items, including $0.55 per diluted share of net costs resulting from the coal gasification incident (see "Coal Gasification Incident") and a $2.91 per share net benefit of one-time tax items primarily resulting from enactment of the Tax Cuts and Jobs Act of 2017 (see "Cash Flow and Tax Items").

"Looking at full year 2017, we delivered a compelling 13 percent increase in adjusted EPS and $1 billion of free cash flow," said Mark Costa, Board Chair and CEO. "Additionally, we ended the year with both solid fourth-quarter results and the safe and efficient repair of our coal gasification facility with minimal disruption to our customers. This performance demonstrates the strength of our portfolio and the benefits of our innovation-driven growth model. Our results also reflect the tremendous capability and determination of the Eastman team that is exemplified in our response to the coal gasification incident and two U.S. hurricanes while driving top line growth at the same time. We remain confident that execution of our strategy will continue to deliver outstanding results going forward."

For earnings history and earnings-related data on Eastman Chemical (EMN) click here.

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