Eastman Chemical Q4 2023 Adj EPS $1.31 Beats $1.30 Estimate, Sales $2.21B Inline
Portfolio Pulse from Benzinga Newsdesk
Eastman Chemical (NYSE:EMN) reported Q4 2023 adjusted earnings per share (EPS) of $1.31, slightly above the analyst consensus estimate of $1.30. Quarterly sales were $2.21 billion, in line with expectations but representing a 7% decrease from the same period last year.
February 01, 2024 | 9:35 pm
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Eastman Chemical reported Q4 2023 adjusted EPS of $1.31, surpassing estimates by 0.77%, with sales of $2.21 billion, aligning with forecasts but showing a 7% YOY decline.
Beating EPS estimates, even by a small margin, is generally viewed positively by the market, potentially leading to a short-term uptick in EMN's stock price. However, the 7% year-over-year decline in sales could temper investor enthusiasm, suggesting a mixed but slightly positive short-term impact.
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