Eastman Chemical (NYSE: EMN) reported Q1 EPS of $1.77, $0.11 worse than the analyst estimate of $1.88. Revenue for the quarter came in at $2.38 billion versus the consensus estimate of $2.59 billion.

2019 Outlook

Commenting on the outlook for full-year 2019, Costa said: "We delivered strong sequential earnings growth in the first quarter and expect strong sequential earnings growth in the second quarter. We are doing a good job of sequentially increasing spreads in specialty products, while also driving new business growth leveraging our innovation-driven growth model. However, we are operating in a difficult global business environment in the first half of the year as challenges from the fourth quarter persist. These include slow global economic growth in part due to the delay in settling the U.S.-China trade dispute, slow flow through of lower-cost raw materials, and a stronger U.S. dollar. Given the difficult global business environment in the first half of the year and our commitment to stockholder value creation, we are taking additional aggressive cost reduction actions. Looking forward, we see signs that the macro economic challenges are lessening with an improvement in orders in March and April, which gives us confidence that the global economy will continue to strengthen in the back half of this year. Taking all of this together, we continue to expect 2019 adjusted EPS growth to be between 6 - 10 percent."

The full-year 2019 projected earnings exclude any non-core, unusual or non-recurring items in the remaining nine months of 2019 and assume that the adjusted effective rate detailed in Tables 4A and 4B for the first three months of 2019 will be the actual rate for the full year 2019. Our 2019 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 2019 earnings excluding non-core and any unusual or non-recurring items to reported GAAP earnings without unreasonable efforts.

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