Eastman Chemical (NYSE: EMN) is expected to report Q2 earnings on July 29. 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 29.2% and EPS will expand 17.1%.

The average estimate for revenue is $2.39 billion. On the bottom line, the average EPS estimate is $1.64.

Revenue details
 Last quarter, Eastman Chemical logged revenue of $2.31 billion. GAAP reported sales were 27% higher than the prior-year quarter's $1.82 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 $1.62. GAAP EPS of $1.57 for Q1 were 40% higher than the prior-year quarter's $1.12 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 26.7%, 300 basis points better than the prior-year quarter. Operating margin was 17.5%, 250 basis points better than the prior-year quarter. Net margin was 10.7%, 200 basis points better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $9.40 billion. The average EPS estimate is $6.34.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 194 members out of 220 rating the stock outperform, and 26 members rating it underperform. Among 70 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 66 give Eastman Chemical a green thumbs-up, and four 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 $80.33.

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