Eastman Chemical Q3 Profit Increases, Beats Estimates

(RTTNews) - Eastman Chemical (EMN) released a profit for its third quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $180 million, or $1.53 per share. This compares with $178 million, or $1.49 per share, in last year's third quarter.

Excluding items, Eastman Chemical reported adjusted earnings of $266 million or $2.26 per share for the period.

Analysts on average had expected the company to earn $2.14 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 8.7% to $2.464 billion from $2.267 billion last year.

Eastman Chemical earnings at a glance (GAAP) :

-Earnings (Q3): $180 Mln. vs. $178 Mln. last year. -EPS (Q3): $1.53 vs. $1.49 last year. -Revenue (Q3): $2.464 Bln vs. $2.267 Bln last year.