Eastman Chemical: Q4 Earnings Snapshot

KINGSPORT, Tenn. (AP) — KINGSPORT, Tenn. (AP) — Eastman Chemical Co. (EMN) on Thursday reported fourth-quarter profit of $310 million.

On a per-share basis, the Kingsport, Tennessee-based company said it had net income of $2.61. Earnings, adjusted for one-time gains and costs, were $1.31 per share.

The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.28 per share.

The specialty chemicals maker posted revenue of $2.21 billion in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $2.17 billion.

For the year, the company reported profit of $894 million, or $7.49 per share. Revenue was reported as $9.21 billion.

Eastman Chemical expects full-year earnings to be $7.25 to $8 per share.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EMN at https://www.zacks.com/ap/EMN