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Eastman Earnings Higher, but Outlook Is Lower

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Specialty chemical-maker Eastman  (NYSE: EMN  )  reported earnings after the bell today that beat analyst estimates for its third quarter. Eastman posted adjusted earnings per share of $1.68, which was better than analyst expectations by $0.04 in the period.

Revenue of $2.3 billion was up 3.5% year over year, and was in line with Wall Street's predictions. Higher sales volumes for its additives and functional products, and advanced Materials segments, partially offset lower sales revenue in adhesives and plasticizers.

Going forward, Eastman says the fourth quarter remains strong, but it lowered its full-year outlook to between $6.30 and $6.40 per share, below its prior guidance of between $6.40 and $6.50 per share, and under analyst estimates of $6.48. Challenges in the adhesives and plasticizers segment, as well as higher raw material and energy costs, will continue to weigh on the specialty chemical maker's performance.


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Rich Duprey
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Rich has been a Fool since 1998 and writing for the site since 2004. After 20 years of patrolling the mean streets of suburbia, he hung up his badge and gun to take up a pen full time.

Having made the streets safe for Truth, Justice and Krispy Kreme donuts, he now patrols the markets looking for companies he can lock up as long-term holdings in a portfolio. So follow me on Facebook and Twitter for the most important industry news in retail and consumer products and other great stories.

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7/6/2015 11:44 AM
EMN $79.36 Down -0.83 -1.04%
Eastman Chemical C… CAPS Rating: ****

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