Eastman Chemical (EMN) Tops Q4 EPS by 9c, FY20 EPS Guidance Misses

Eastman Chemical (NYSE: EMN) reported Q4 EPS of $1.42, $0.09 better than the analyst estimate of $1.33. Revenue for the quarter came in at $2.2 billion versus the consensus estimate of $2.2 billion.

GUIDANCE:

Eastman Chemical sees FY2020 EPS of $7.20-$7.60, versus the consensus of $7.74.

• Commenting on the outlook for full-year 2020, Costa said: “We enter 2020 in a period of significant uncertainty related to macro factors that are out of our control. In this environment, we are focused on what we can control, including growing new business revenue by leveraging our innovation-driven growth model, aggressive cost management, and disciplined capital allocation. We are currently assuming that slow growth continues in 2020 at levels similar to 2019, although with less inventory destocking. Taking all of this together, we expect 2020 adjusted earnings per share to be between $7.20 and $7.60 and free cash flow to be between $1.0 billion and $1.1 billion.”

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

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