Eastman Chemical Q1 Profit Increases, beats estimates

(RTTNews) - Eastman Chemical (EMN) reported earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $165 million, or $1.39 per share. This compares with $134 million, or $1.12 per share, in last year's first quarter.

Excluding items, Eastman Chemical reported adjusted earnings of $190 million or $1.61 per share for the period.

Analysts on average had expected the company to earn $1.43 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 4.1% to $2.31 billion from $2.41 billion last year.

Eastman Chemical earnings at a glance (GAAP) :

-Earnings (Q1): $165 Mln. vs. $134 Mln. last year. -EPS (Q1): $1.39 vs. $1.12 last year. -Revenue (Q1): $2.31 Bln vs. $2.41 Bln last year.