KINGSPORT, Tenn. (AP) — KINGSPORT, Tenn. (AP) — Eastman Chemical Co. (EMN) on Thursday reported first-quarter earnings of $165 million.
The Kingsport, Tennessee-based company said it had profit of $1.39 per share. Earnings, adjusted for non-recurring costs, came to $1.61 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.41 per share.
The specialty chemicals maker posted revenue of $2.31 billion in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $2.26 billion.
Eastman Chemical expects full-year earnings to be $7.25 to $8 per share.
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