Eastman cuts Q3 adjusted EPS outlook to ~$2.00 vs prior expectations of growth from $2.46

EASTMAN CHEMICAL CO

Adjusted EPS expected ~$2.00, down from $2.46 in Q3 2021; prior guidance was for solid growth.
Demand slowed in consumer durables and building/construction, especially in Europe and Asia.
Logistics disruptions on U.S. East Coast and polymer line outage at Kingsport facility hurt volumes and mix.
Higher natural gas costs (14-year high) and stronger USD negatively impacting results.
Company raising prices and controlling costs; Q4 outlook to be provided Oct. 28.

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