Eastman Chemical (EMN) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended December 2023, Eastman Chemical (EMN) reported revenue of $2.21 billion, down 7% over the same period last year. EPS came in at $1.31, compared to $0.89 in the year-ago quarter.
The reported revenue represents a surprise of +1.86% over the Zacks Consensus Estimate of $2.17 billion. With the consensus EPS estimate being $1.28, the EPS surprise was +2.34%.
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: $513 million versus $476.15 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -16.6% change.
Net Sales- Advanced Materials: $705 million versus $707.88 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -4.2% change.
Net Sales- Additives & Functional Products: $640 million compared to the $627.79 million average estimate based on six analysts. The reported number represents a change of -9.2% year over year.
Net Sales- Fibers: $346 million versus the six-analyst average estimate of $351.18 million. The reported number represents a year-over-year change of +9.2%.
Adjusted EBIT- Additives & Functional Products: $67 million versus $59.74 million estimated by six analysts on average.
Adjusted EBIT- Advanced Materials: $65 million compared to the $98.88 million average estimate based on six analysts.
Adjusted EBIT- Chemical Intermediates: $24 million versus the six-analyst average estimate of $17.35 million.
Adjusted EBIT- Other: -$47 million versus the six-analyst average estimate of -$46.62 million.
Adjusted EBIT- Fibers: $113 million versus $109.58 million estimated by six analysts on average.
View all Key Company Metrics for Eastman Chemical here>>>
Shares of Eastman Chemical have returned -5.1% over the past month versus the Zacks S&P 500 composite's +1.6% 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.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Eastman Chemical Company (EMN) : Free Stock Analysis Report
