Eastman Chemical Q2 Profit Decreases, Misses Estimates

(RTTNews) - Eastman Chemical (EMN) revealed earnings for second quarter that Decreased from last year and missed the Street estimates.

The company's bottom line came in at $140 million, or $1.20 per share. This compares with $230 million, or $1.94 per share, last year.

Excluding items, Eastman Chemical reported adjusted earnings of $186 million or $1.60 per share for the period.

Analysts on average had expected the company to earn $1.75 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 3.2% to $2.287 billion from $2.363 billion last year.

Eastman Chemical earnings at a glance (GAAP) :

-Earnings: $140 Mln. vs. $230 Mln. last year. -EPS: $1.20 vs. $1.94 last year. -Revenue: $2.287 Bln vs. $2.363 Bln last year.