KINGSPORT, Tenn. (AP) — KINGSPORT, Tenn. (AP) — Eastman Chemical Co. (EMN) on Thursday reported first-quarter earnings of $182 million.
On a per-share basis, the Kingsport, Tennessee-based company said it had profit of $1.57. Earnings, adjusted for pretax expenses and asset impairment costs, were $1.91 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.89 per share.
The specialty chemicals maker posted revenue of $2.29 billion in the period, falling short of Street forecasts. Five analysts surveyed by Zacks expected $2.31 billion.
For the current quarter ending in June, Eastman Chemical expects its per-share earnings to range from $1.70 to $1.90.
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