Eastman Chemical (EMN) Tops Q2 EPS by 16c, Offers Guidance

Eastman Chemical (NYSE: EMN) reported Q2 EPS of $2.46, $0.16 better than the analyst estimate of $2.30. Revenue for the quarter came in at $2.65 billion versus the consensus estimate of $2.4 billion.

GUIDANCE:

Eastman Chemical sees FY2021 EPS of $8.80-$9.20, versus the consensus of $8.63.

• Commenting on the outlook for full-year 2021, Costa said: “Our employees around the world continue to do a great job executing in a challenging environment, mitigating the ongoing impact of COVID-19, supply chain disruptions, and overall tight market conditions. We delivered record first-half adjusted EPS and are on track for continued strong performance in the second half as we grow faster than recovering end markets due to our innovation-driven growth model. We also remain disciplined on costs as we implement our operations transformation program. With strong first-half results and continued momentum into the second half, we now expect 2021 adjusted EPS to be between $8.80 and $9.20. We are also increasing our expectation for free cash flow to greater than $1.1 billion, which would be the fifth consecutive year of free cash flow above $1 billion.”

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

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