secwatch.observer — SEC 8-K summary
======================================

Issuer:     EASTMAN CHEMICAL CO (EMN)
CIK:        0000915389
Form:       8-K
Filed at:   2023-07-27T23:59:59+00:00
Accession:  0000915389-23-000133
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Eastman Q2 adj EPS $1.99, revenue $2.32B down 17% YoY; guides FY23 adj EPS $6.50-$7.00
--------------------------------------------------------------------------------

- Revenue $2,324M (-17% YoY); GAAP EPS $2.27, adj EPS $1.99; EBIT $323M, adj EBIT $336M.
- Segments: Advanced Materials -13%, Additives & Functional -19%, Fibers +33%, Chemical Intermediates -33%.
- Operating cash flow $410M vs $245M YoY; returned $144M via dividends and buybacks.
- FY2023 guidance: adj EPS $6.50-$7.00, operating cash flow ~$1.4B; expect >$200M cost reduction.
- Weak demand and customer destocking persist; H2 EPS seen somewhat below H1; auto/aviation modest improvement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/915389/000091538923000133/0000915389-23-000133-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/915389/000091538923000133/emn-20230727.htm
  HTML page:      https://secwatch.observer/filing/0000915389-23-000133

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer