What's In Store For Eastman Chemical (EMN) In Q4 Earnings?
Zacks Investment Research | Jan 25, 2019 07:57AM ET
Eastman Chemical Company (NYSE:EMN) is set to release fourth-quarter 2018 results after the closing bell on Jan 31.
The chemical maker saw its profits rise in the third quarter of 2018, aided by strong growth in its specialty businesses and cost management actions. The company recorded profit of $412 million or $2.89 per share, up roughly 28% from the year-ago figure of $323 million or $2.22. Adjusted earnings of $2.34 per share topped the Zacks Consensus Estimate of $2.29.
Revenues rose around 3% year over year to $2,547 million in the quarter, also exceeding the Zacks Consensus Estimate of $2,534.9 million.
Notably, Eastman Chemical topped the Zacks Consensus Estimate in each of the trailing four quarters with an average earnings beat of roughly 15.4%.
Eastman Chemical’s shares have lost around 23.7% over a year, outperforming the roughly 26.7% decline recorded by the Earnings ESP Filter .
Zacks Rank: Eastman Chemical currently carries a Zacks Rank #4 (Sell). Note that we caution against stocks with a Zacks Rank #4 or #5 (Strong Sell) going into the earnings announcement, especially when the company is seeing negative estimate revisions.
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