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Eastman Chemical (EMN) Reports Q2 Earnings: What Key Metrics Have to Say
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Eastman Chemical (EMN - Free Report) reported $2.36 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 1.7%. EPS of $2.15 for the same period compares to $1.99 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.37 billion, representing a surprise of -0.26%. The company delivered an EPS surprise of +8.04%, with the consensus EPS estimate being $1.99.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: $515 million versus $492.56 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +0.2% change.
Net Sales- Fibers: $330 million versus $355.48 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +2.2% change.
Net Sales- Advanced Materials: $795 million compared to the $797.26 million average estimate based on four analysts. The reported number represents a change of +7.6% year over year.
Net Sales- Additives & Functional Products: $718 million versus $723.61 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -3.9% change.
Net Sales- Other: $5 million compared to the $2.50 million average estimate based on two analysts. The reported number represents a change of +400% year over year.
Adjusted EBIT- Additives & Functional Products: $123 million versus $114.90 million estimated by four analysts on average.
Adjusted EBIT- Advanced Materials: $131 million versus $130.46 million estimated by four analysts on average.
Adjusted EBIT- Chemical Intermediates: $22 million compared to the $20.03 million average estimate based on four analysts.
Adjusted EBIT- Other: -$61 million versus the four-analyst average estimate of -$53.76 million.
Adjusted EBIT- Fibers: $122 million compared to the $117.59 million average estimate based on four analysts.
Shares of Eastman Chemical have returned -1.9% over the past month versus the Zacks S&P 500 composite's -0.3% 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) Reports Q2 Earnings: What Key Metrics Have to Say
Eastman Chemical (EMN - Free Report) reported $2.36 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 1.7%. EPS of $2.15 for the same period compares to $1.99 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.37 billion, representing a surprise of -0.26%. The company delivered an EPS surprise of +8.04%, with the consensus EPS estimate being $1.99.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: $515 million versus $492.56 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +0.2% change.
- Net Sales- Fibers: $330 million versus $355.48 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +2.2% change.
- Net Sales- Advanced Materials: $795 million compared to the $797.26 million average estimate based on four analysts. The reported number represents a change of +7.6% year over year.
- Net Sales- Additives & Functional Products: $718 million versus $723.61 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -3.9% change.
- Net Sales- Other: $5 million compared to the $2.50 million average estimate based on two analysts. The reported number represents a change of +400% year over year.
- Adjusted EBIT- Additives & Functional Products: $123 million versus $114.90 million estimated by four analysts on average.
- Adjusted EBIT- Advanced Materials: $131 million versus $130.46 million estimated by four analysts on average.
- Adjusted EBIT- Chemical Intermediates: $22 million compared to the $20.03 million average estimate based on four analysts.
- Adjusted EBIT- Other: -$61 million versus the four-analyst average estimate of -$53.76 million.
- Adjusted EBIT- Fibers: $122 million compared to the $117.59 million average estimate based on four analysts.
View all Key Company Metrics for Eastman Chemical here>>>Shares of Eastman Chemical have returned -1.9% over the past month versus the Zacks S&P 500 composite's -0.3% 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.