Eastman Chemical Q2 Profit Tops Estimate

(RTTNews) - Eastman Chemical Co. (EMN) reported net income for the second quarter of $297 million or $1.98 per share, compared to $292 million or $1.93 per share for the year-ago quarter.

Excluding items, adjusted earnings for the second quarter were $2.01 per share, compared to $1.92 per share in the prior year quarter.

Sales revenue for second quarter rose 3% to $2.53 billion from $2.46 billion a year ago, mainly due to sales revenue from the Taminco Corp., Commonwealth Laminating & Coating Inc., and aviation turbine oil businesses acquired in 2014.

Analysts polled by Thomson Reuters expected the company to earn $1.83 per share on revenue of $2.65 billion for the second quarter. Analysts' estimates typically exclude special items.