Eastman Chemical Q4 Profit Decreases, misses estimates

(RTTNews) - Eastman Chemical (EMN) announced earnings for fourth quarter that decreased from last year and missed the Street estimates.

The company's bottom line totaled $1 million, or $0.01 per share. This compares with $378 million, or $2.81 per share, in last year's fourth quarter.

Excluding items, Eastman Chemical reported adjusted earnings of $107 million or $0.89 per share for the period.

Analysts on average had expected the company to earn $1.26 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 11.9% to $2.37 billion from $2.69 billion last year.

Eastman Chemical earnings at a glance (GAAP) :

-Earnings (Q4): $1 Mln. vs. $378 Mln. last year. -EPS (Q4): $0.01 vs. $2.81 last year. -Analyst Estimates: $1.26 -Revenue (Q4): $2.37 Bln vs. $2.69 Bln last year.