Eastman Chemical Q1 Income Retreats 7%

(RTTNews) - Eastman Chemical (EMN) announced earnings for first quarter that decreased compared to the same period last year.

The company said its bottom line fell to $406 million, or $1.71 per share. This was down from $435 million, or $1.84 per share, in last year's first quarter.

Analysts had expected the company to earn $1.53 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 8.2% to $2.24 billion. This was down from $2.44 billion last year.

Eastman Chemical earnings at a glance:

-Earnings (Q1): $406 Mln. vs. $435 Mln. last year. -Earnings Decline (Y-o-Y): -6.7% -EPS (Q1): $1.71 vs. $1.84 last year. -EPS Decline (Y-o-Y): -7.1% -Analysts Estimate: $1.53 -Revenue (Q1): $2.24 Bln vs. $2.44 Bln last year. -Revenue Change (Y-o-Y): -8.2%