Eastman Chemical Q2 Adj EPS $1.99 Beats $1.93 Estimate, Sales $2.32B Miss $2.59B Estimate
Portfolio Pulse from Benzinga Newsdesk
Eastman Chemical (NYSE:EMN) reported Q2 adjusted earnings of $1.99 per share, beating the analyst consensus estimate of $1.93 by 3.11%. However, this is a 29.68% decrease from the same period last year. The company's quarterly sales of $2.32 billion missed the analyst consensus estimate of $2.59 billion by 10.27%, marking a 16.52% decrease from the same period last year.
July 27, 2023 | 8:15 pm
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Eastman Chemical's Q2 earnings beat estimates but are down 29.68% YoY. Sales missed estimates and are down 16.52% YoY.
Eastman Chemical's earnings beat estimates, which is a positive signal. However, the YoY decrease in both earnings and sales, as well as the missed sales estimate, could negatively impact investor sentiment and the stock price in the short term.
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IMPORTANCE 80
RELEVANCE 100