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What Analyst Projections for Key Metrics Reveal About Eastman Chemical (EMN) Q3 Earnings
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Wall Street analysts expect Eastman Chemical (EMN - Free Report) to post quarterly earnings of $2.12 per share in its upcoming report, which indicates a year-over-year increase of 44.2%. Revenues are expected to be $2.39 billion, up 5.6% from the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 0.5% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
Given this perspective, it's time to examine the average forecasts of specific Eastman Chemical metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts expect 'Net Sales- Chemical Intermediates' to come in at $530.35 million. The estimate indicates a change of +0.6% from the prior-year quarter.
Analysts predict that the 'Net Sales- Fibers' will reach $337.58 million. The estimate suggests a change of +4.5% year over year.
According to the collective judgment of analysts, 'Net Sales- Advanced Materials' should come in at $823.85 million. The estimate indicates a year-over-year change of +10.4%.
The collective assessment of analysts points to an estimated 'Net Sales- Additives & Functional Products' of $702.34 million. The estimate indicates a change of +4.8% from the prior-year quarter.
The average prediction of analysts places 'Adjusted EBIT- Additives & Functional Products' at $119.16 million. Compared to the present estimate, the company reported $105 million in the same quarter last year.
Analysts forecast 'Adjusted EBIT- Advanced Materials' to reach $130.75 million. Compared to the present estimate, the company reported $93 million in the same quarter last year.
It is projected by analysts that the 'Adjusted EBIT- Chemical Intermediates' will reach $30.71 million. The estimate compares to the year-ago value of $6 million.
The combined assessment of analysts suggests that 'Adjusted EBIT- Fibers' will likely reach $111.17 million. The estimate is in contrast to the year-ago figure of $109 million.
Shares of Eastman Chemical have experienced a change of -5.2% in the past month compared to the +1.8% move of the Zacks S&P 500 composite. With a Zacks Rank #4 (Sell), EMN is expected to underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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What Analyst Projections for Key Metrics Reveal About Eastman Chemical (EMN) Q3 Earnings
Wall Street analysts expect Eastman Chemical (EMN - Free Report) to post quarterly earnings of $2.12 per share in its upcoming report, which indicates a year-over-year increase of 44.2%. Revenues are expected to be $2.39 billion, up 5.6% from the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 0.5% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
Given this perspective, it's time to examine the average forecasts of specific Eastman Chemical metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts expect 'Net Sales- Chemical Intermediates' to come in at $530.35 million. The estimate indicates a change of +0.6% from the prior-year quarter.
Analysts predict that the 'Net Sales- Fibers' will reach $337.58 million. The estimate suggests a change of +4.5% year over year.
According to the collective judgment of analysts, 'Net Sales- Advanced Materials' should come in at $823.85 million. The estimate indicates a year-over-year change of +10.4%.
The collective assessment of analysts points to an estimated 'Net Sales- Additives & Functional Products' of $702.34 million. The estimate indicates a change of +4.8% from the prior-year quarter.
The average prediction of analysts places 'Adjusted EBIT- Additives & Functional Products' at $119.16 million. Compared to the present estimate, the company reported $105 million in the same quarter last year.
Analysts forecast 'Adjusted EBIT- Advanced Materials' to reach $130.75 million. Compared to the present estimate, the company reported $93 million in the same quarter last year.
It is projected by analysts that the 'Adjusted EBIT- Chemical Intermediates' will reach $30.71 million. The estimate compares to the year-ago value of $6 million.
The combined assessment of analysts suggests that 'Adjusted EBIT- Fibers' will likely reach $111.17 million. The estimate is in contrast to the year-ago figure of $109 million.
View all Key Company Metrics for Eastman Chemical here>>>
Shares of Eastman Chemical have experienced a change of -5.2% in the past month compared to the +1.8% move of the Zacks S&P 500 composite. With a Zacks Rank #4 (Sell), EMN is expected to underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>