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Eastman Chemical (EMN) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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Eastman Chemical (EMN - Free Report) reported $2.32 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 16.5%. EPS of $1.99 for the same period compares to $2.83 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.56 billion, representing a surprise of -9.12%. The company delivered an EPS surprise of +2.05%, with the consensus EPS estimate being $1.95.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Eastman Chemical performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Sales- Advanced Materials: $739 million versus the six-analyst average estimate of $857.04 million. The reported number represents a year-over-year change of -12.7%.
Net Sales- Fibers: $323 million versus $320.41 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +33.5% change.
Net Sales- Chemical Intermediates: $514 million compared to the $549.62 million average estimate based on six analysts. The reported number represents a change of -40.3% year over year.
Net Sales- Additives & Functional Products: $747 million versus the six-analyst average estimate of $816.95 million. The reported number represents a year-over-year change of -10.5%.
Adjusted EBIT- Additives & Functional Products: $140 million compared to the $130.45 million average estimate based on six analysts.
Adjusted EBIT- Advanced Materials: $99 million versus $123.42 million estimated by six analysts on average.
Adjusted EBIT- Chemical Intermediates: $39 million versus the six-analyst average estimate of $41.65 million.
Adjusted EBIT- Other: -$48 million versus -$44.34 million estimated by six analysts on average.
Adjusted EBIT- Fibers: $106 million versus the six-analyst average estimate of $90.71 million.
Shares of Eastman Chemical have returned +6.7% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Eastman Chemical (EMN) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
Eastman Chemical (EMN - Free Report) reported $2.32 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 16.5%. EPS of $1.99 for the same period compares to $2.83 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.56 billion, representing a surprise of -9.12%. The company delivered an EPS surprise of +2.05%, with the consensus EPS estimate being $1.95.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Eastman Chemical performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Sales- Advanced Materials: $739 million versus the six-analyst average estimate of $857.04 million. The reported number represents a year-over-year change of -12.7%.
- Net Sales- Fibers: $323 million versus $320.41 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +33.5% change.
- Net Sales- Chemical Intermediates: $514 million compared to the $549.62 million average estimate based on six analysts. The reported number represents a change of -40.3% year over year.
- Net Sales- Additives & Functional Products: $747 million versus the six-analyst average estimate of $816.95 million. The reported number represents a year-over-year change of -10.5%.
- Adjusted EBIT- Additives & Functional Products: $140 million compared to the $130.45 million average estimate based on six analysts.
- Adjusted EBIT- Advanced Materials: $99 million versus $123.42 million estimated by six analysts on average.
- Adjusted EBIT- Chemical Intermediates: $39 million versus the six-analyst average estimate of $41.65 million.
- Adjusted EBIT- Other: -$48 million versus -$44.34 million estimated by six analysts on average.
- Adjusted EBIT- Fibers: $106 million versus the six-analyst average estimate of $90.71 million.
View all Key Company Metrics for Eastman Chemical here>>>Shares of Eastman Chemical have returned +6.7% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.