Eastman Chemical (EMN) has announced a rise in its fourth-quarter profit compared to the equivalent period in the previous year, surpassing Wall Street forecasts.
The company's net income reached $330 million, equating to earnings of $2.82 per share. This is an improvement over the prior year's figures of $310 million, or $2.61 per share.
Adjustments for specific items reveal that Eastman Chemical achieved adjusted earnings of $219 million, or $1.87 per share, during this period.
Market analysts had anticipated average earnings of $1.57 per share, often excluding special items from these forecasts.
Revenues for this quarter experienced a 1.7% increase, reaching $2.245 billion, up from $2.207 billion in the previous year.
A summary of Eastman Chemical's financial performance (GAAP):
- Net Income: $330 million, compared to $310 million last year.
- Earnings per Share (EPS): $2.82, up from $2.61 last year.
- Revenue: $2.245 billion, compared to $2.207 billion last year.
