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Eastman Chemical (EMN) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
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For the quarter ended September 2023, Eastman Chemical (EMN - Free Report) reported revenue of $2.27 billion, down 16.3% over the same period last year. EPS came in at $1.47, compared to $2.05 in the year-ago quarter.
The reported revenue represents a surprise of +0.28% over the Zacks Consensus Estimate of $2.26 billion. With the consensus EPS estimate being $1.45, the EPS surprise was +1.38%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Eastman Chemical performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Sales- Chemical Intermediates: $527 million versus the six-analyst average estimate of $499.34 million. The reported number represents a year-over-year change of -29.8%.
Net Sales- Advanced Materials: $746 million versus the six-analyst average estimate of $749.13 million. The reported number represents a year-over-year change of -16%.
Net Sales- Additives & Functional Products: $670 million compared to the $661.34 million average estimate based on six analysts. The reported number represents a change of -18.3% year over year.
Net Sales- Fibers: $323 million versus the six-analyst average estimate of $317.52 million. The reported number represents a year-over-year change of +29.2%.
Adjusted EBIT- Additives & Functional Products: $105 million versus $82.61 million estimated by six analysts on average.
Adjusted EBIT- Advanced Materials: $93 million versus the six-analyst average estimate of $100.67 million.
Adjusted EBIT- Chemical Intermediates: $6 million versus the six-analyst average estimate of $34.75 million.
Adjusted EBIT- Other: -$57 million versus the six-analyst average estimate of -$49.73 million.
Adjusted EBIT- Fibers: $109 million versus the six-analyst average estimate of $96.29 million.
Shares of Eastman Chemical have returned -7.5% over the past month versus the Zacks S&P 500 composite's -3.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Eastman Chemical (EMN) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended September 2023, Eastman Chemical (EMN - Free Report) reported revenue of $2.27 billion, down 16.3% over the same period last year. EPS came in at $1.47, compared to $2.05 in the year-ago quarter.
The reported revenue represents a surprise of +0.28% over the Zacks Consensus Estimate of $2.26 billion. With the consensus EPS estimate being $1.45, the EPS surprise was +1.38%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Eastman Chemical performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Sales- Chemical Intermediates: $527 million versus the six-analyst average estimate of $499.34 million. The reported number represents a year-over-year change of -29.8%.
- Net Sales- Advanced Materials: $746 million versus the six-analyst average estimate of $749.13 million. The reported number represents a year-over-year change of -16%.
- Net Sales- Additives & Functional Products: $670 million compared to the $661.34 million average estimate based on six analysts. The reported number represents a change of -18.3% year over year.
- Net Sales- Fibers: $323 million versus the six-analyst average estimate of $317.52 million. The reported number represents a year-over-year change of +29.2%.
- Adjusted EBIT- Additives & Functional Products: $105 million versus $82.61 million estimated by six analysts on average.
- Adjusted EBIT- Advanced Materials: $93 million versus the six-analyst average estimate of $100.67 million.
- Adjusted EBIT- Chemical Intermediates: $6 million versus the six-analyst average estimate of $34.75 million.
- Adjusted EBIT- Other: -$57 million versus the six-analyst average estimate of -$49.73 million.
- Adjusted EBIT- Fibers: $109 million versus the six-analyst average estimate of $96.29 million.
View all Key Company Metrics for Eastman Chemical here>>>Shares of Eastman Chemical have returned -7.5% over the past month versus the Zacks S&P 500 composite's -3.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.