Eastman Chemical (NYSE: EMN) is expected to report Q2 earnings on July 30. Here's what Wall Street wants to see:

The 10-second takeaway
 Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Eastman Chemical's revenues will increase 3.0% and EPS will shrink -5.8%.

The average estimate for revenue is $1.94 billion. On the bottom line, the average EPS estimate is $1.30.

Revenue details
 Last quarter, Eastman Chemical logged revenue of $1.82 billion. GAAP reported sales were 3.6% higher than the prior-year quarter's $1.76 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 Last quarter, non-GAAP EPS came in at $1.22. GAAP EPS of $1.12 for Q1 were 33% lower than the prior-year quarter's $1.66 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
 For the preceding quarter, gross margin was 23.7%, 240 basis points worse than the prior-year quarter. Operating margin was 15.0%, 290 basis points worse than the prior-year quarter. Net margin was 8.7%, 500 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $8.47 billion. The average EPS estimate is $5.17.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 186 members out of 211 rating the stock outperform, and 25 members rating it underperform. Among 52 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 49 give Eastman Chemical a green thumbs-up, and three give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Eastman Chemical is outperform, with an average price target of $57.06.

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