Eastman Chemical Q1 Profit Tops Estimate

(RTTNews) - Eastman Chemical Co. (EMN) reported net income for the first quarter of $171 million or $1.14 per share, compared to $233 million or $1.52 per share for the year-ago quarter.

Excluding items, adjusted earnings per share for the first quarter was $1.84, compared to $1.61 in the prior year quarter.

Sales revenue for the first quarter rose 6% to $2.44 billion from $2.31 billion a year ago.

Analysts polled by Thomson Reuters expected the company to earn $1.60 per share on revenue of $2.56 billion for the first quarter. Analysts' estimates typically exclude special items.