KINGSPORT, Tenn. (AP) — KINGSPORT, Tenn. (AP) — Eastman Chemical Co. (EMN) on Thursday reported fourth-quarter profit of $330 million.
On a per-share basis, the Kingsport, Tennessee-based company said it had net income of $2.82. Earnings, adjusted for non-recurring gains, came to $1.87 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.58 per share.
The specialty chemicals maker posted revenue of $2.25 billion in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $2.26 billion.
For the year, the company reported profit of $905 million, or $7.67 per share. Revenue was reported as $9.38 billion.
Eastman Chemical expects full-year earnings to be $8 to $8.75 per share.
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