Eastman Chemical Q2 Profit Decreases, But Beats Estimates

(RTTNews) - Eastman Chemical (EMN) reported earnings for second quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $230 million, or $1.94 per share. This compares with $272 million, or $2.27 per share, in last year's second quarter.

Excluding items, Eastman Chemical reported adjusted earnings of $256 million or $2.15 per share for the period.

Analysts on average had expected the company to earn $2.01 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 1.7% to $2.363 billion from $2.324 billion last year.

Eastman Chemical earnings at a glance (GAAP) :

-Earnings (Q2): $230 Mln. vs. $272 Mln. last year. -EPS (Q2): $1.94 vs. $2.27 last year. -Revenue (Q2): $2.363 Bln vs. $2.324 Bln last year.