Eastman Q1 adjusted EPS $2.06 vs $2.13; revenue $2.71B +13%; reaffirms FY2022 EPS guidance $9.50-$10.00

EASTMAN CHEMICAL CO

2022-Q1 EPS reported $1.80 revenue$2,714,000,000

Revenue $2,714M (+13% YoY); adjusted diluted EPS $2.06 vs $2.13 prior year.
Kingsport steam line incident reduced adjusted earnings by ~$125M ($0.80/share).
Additives & Functional Products revenue +32%; Advanced Materials EBIT down due to incident.
Cash from operations $17M vs $216M in Q1 2021; returned $98M via dividends.
Received $1B proceeds from adhesives resins sale on April 1, 2022.

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