Eastman Chemical (EMN) Tops Q4 Earnings And Sales Estimates
Zacks Investment Research | Jan 31, 2020 07:23AM ET
Eastman Chemical Company (NYSE:EMN) logged profit of $26 million or 19 cents per share for the fourth quarter of 2019, down roughly 24% from the year-ago profit of $34 million or 24 cents.
Barring one-time items, earnings were $1.42 per share for the quarter, up from $1.39 in the year ago-quarter. Earnings also topped the Zacks Consensus Estimate of $1.33.
Revenues dropped around 7% year over year to $2,205 million in the quarter. The top line, however, surpassed the Zacks Consensus Estimate of $2,171.2 million.
The company continued to faced challenging global economic conditions in the fourth quarter that impacted consumer discretionary markets including transportation.
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