Eastman Chemical (NYSE: EMN) reported Q1 EPS of $2.23, $0.14 better than the analyst estimate of $2.09. Revenue for the quarter came in at $2.61 billion versus the consensus estimate of $2.46 billion.

Outlook

Commenting on the outlook for full-year 2018, Costa said: "Our compelling performance in the first quarter gives us increasing confidence in our growth expectations for the year. Our innovation-driven growth model continues to deliver results, driving impressive growth in our specialty businesses. In addition, the use of our strong free cash flow along with a modestly lower tax rate is contributing to earnings growth. We continue to work hard to offset volatility in raw material and energy prices, particularly olefins. Taking all of this together, we are increasing our expectations for adjusted 2018 EPS growth to be between 10-14 percent.”

The full-year 2018 projected earnings exclude any non-core, unusual, or non-recurring items in the remaining nine months of 2018, and assumes that the adjusted tax rate detailed in Tables 4A and 4B for first quarter 2018 will be the actual rate for full-year 2018. Our 2018 financial results forecasts do not include non-core items (such as mark-to-market pension and other postretirement benefit gain or loss) or any unusual or non-recurring items, and we accordingly are unable to reconcile projected full-year 2018 earnings excluding non-core and any unusual or non-recurring items to projected GAAP earnings without unreasonable efforts.

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