Eastman Q3 revenue down 16%, adjusted EPS $1.47 vs $2.05; FY EPS guidance $6.30-$6.50

EASTMAN CHEMICAL CO

2023-Q3 EPS reported $4.89 revenue$7,003,000,000

Q3 sales $2,267M (-16% YoY); adjusted diluted EPS $1.47 vs $2.05 prior year.
Cash from operations $514M on inventory reduction; $94M returned via dividends.
Fibers sales +29% on higher acetate tow prices; Advanced Materials & Additives & Functional Products sales volume/mix weak.
FY2023 EPS guidance $6.30-$6.50; operating cash flow approaching $1.4B.
Kingsport methanolysis facility on track to produce material and realize revenue around year-end.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

EASTMAN CHEMICAL CO reported financial results for third quarter 2023.

Period: third quarter 2023
Result: reported results

Exact text from the filing

On October 26, 2023, the registrant publicly released its financial results for third quarter 2023. The full text of the release is furnished as Exhibit 99.01 to this Current Report on Form 8-K, and is incorporated herein by reference.

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EASTMAN CHEMICAL CO filing history →

Source: SEC EDGAR

accession 0000915389-23-000166

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