Eastman Q1 adj. EPS $1.63, rev $2.41B (-11%); guides FY23 growth 5-15%

EASTMAN CHEMICAL CO

2023-Q1 EPS reported $1.12 revenue$2,412,000,000

Revenue $2.41B, down 11% YoY; diluted EPS $1.12 (adj. $1.63) vs $1.80 ($2.06 adj.) last year.
Guides FY2023 adjusted EPS growth 5-15%, excluding ~$0.75 pension headwind.
Fibers revenue up 42% YoY; Chemical Intermediates down 18%; cost savings >$200M on track.
Recast segment data for Additives & Functional Products and Chemical Intermediates provided back to 2019.
Operating cash flow -$2M in Q1 vs +$17M last year; returned $94M in dividends.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.4

EASTMAN CHEMICAL CO reported first quarter 2023 results: revenue $2,412, EPS 1.12.

Period: first quarter 2023
Revenue: $2,412
EPS: 1.12
Result: reported results

Exact text from the filing

Products. See “Functional Amines” section of this release and tables for more information. (In millions, except per share amounts; unaudited) 1Q2023 1Q2022 Sales revenue $2,412 $2,714 Earnings before interest and taxes ("EBIT") 246 333 Adjusted EBIT* 283 366 Earnings per diluted share 1.12 1.80 Adjusted earnings per diluted share* 1.63 2.06 Net cash

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EASTMAN CHEMICAL CO filing history →

Source: SEC EDGAR

accession 0000915389-23-000087

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