Eastman Chemical Q3 revenue record at $2.72B; adj. EPS $2.46; raises 2021 guidance to $8.80-$9.00

EASTMAN CHEMICAL CO

2021-Q3 EPS reported $3.49 revenue$7,782,000,000

Q3 sales revenue $2.72B, up 28% YoY; GAAP diluted EPS $2.57; adjusted EPS $2.46 (vs. $1.57 prior year).
Adjusted EBIT $445M; free cash flow $430M in Q3; YTD FCF $874M; full-year FCF expected near $1.1B.
2021 adjusted EPS guidance raised to $8.80 - $9.00; strong demand and price increases offsetting raw material costs.
Chemical Intermediates revenue up 44% YoY; Additives & Functional up 34%; Advanced Materials up 15%.
Logistics constraints and automotive OEM component shortages impacted Advanced Materials late in Q3.

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