Eastman Chemical Earnings Drop 22% In Q2

(RTTNews) - Eastman Chemical (EMN) revealed a profit for second quarter that declined compared to the same period last year.

The company said its bottom line fell to $376 million, or $1.68 per share. This was lower than $480 million, or $2.01 per share, in last year's second quarter.

Analysts had expected the company to earn $1.73 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 9.1% to $2.30 billion. This was down from $2.53 billion last year.

Eastman Chemical earnings at a glance:

-Earnings (Q2): $376 Mln. vs. $480 Mln. last year. -Earnings Decline (Y-o-Y): -21.7% -EPS (Q2): $1.68 vs. $2.01 last year. -EPS Decline (Y-o-Y): -16.4% -Analysts Estimate: $1.73 -Revenue (Q2): $2.30 Bln vs. $2.53 Bln last year. -Revenue Change (Y-o-Y): -9.1%