Eastman Chemical Company (NYSE: EMN) reported lower sales and adjusted profit for the second quarter of 2023. The management provided guidance for the full fiscal year.
- Total sales revenue decreased to $2.32 billion in the second quarter from $2.78 billion in the corresponding period of 2022
- The chemical company reported adjusted earnings of $1.99 per share for the three-month period, lower than the $2.83 per share profit it reported a year earlier
- Unadjusted profit, on a per-share basis, came in at $2.27, compared to $2.03 in the prior-year quarter
- Net cash provided by operating activities was $410 million in the second quarter, vs. $245 million last year
- Q2 adjusted EBITDA decreased to $336 million from $469 million in the year-ago period
- The company said it expects the auto, aviation, and other markets to modestly improve in the second half of the year
- Eastman is looking for earnings in the range of $6.50 per share to $7.00 per share for fiscal 2023
- It continues to expect to generate $1.4 billion of operating cash flow this year
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
Most Popular
CVX Earnings: Chevron reports lower revenue and profit for Q3 2024
Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to
Key highlights from Exxon Mobil Corporation’s (XOM) Q3 2024 earnings results
Exxon Mobil Corporation (NYSE: XOM) reported its third quarter 2024 earnings results today. Total revenues and other income remained relatively flat at $90 billion compared to the same period a
AAPL Earnings: Apple Q4 2024 sales rise 6% YoY, beat estimates
Apple Inc. (NASDAQ: AAPL) reported an increase in revenues for the fourth quarter of 2024. The top line came in above estimates. The gadget giant generated revenues of $94.9 billion