Investing.com - Eastman Chemical (NYSE:EMN) reported on Thursday first quarter earnings that missed analysts' forecasts and revenue that topped expectations.
Eastman Chemical announced earnings per share of $2.06 on revenue of $2.71B. Analysts polled by Investing.com anticipated EPS of $2.13 on revenue of $2.5B.
Eastman Chemical shares are down 19% from the beginning of the year, still down 17.69% from its 52 week high of $130.47 set on June 1, 2021. They are under-performing the S&P 500 which is down 10.04% from the start of the year.
Eastman Chemical follows other major Materials sector earnings this month
Eastman Chemical's report follows an earnings missed by Vale ADR on Wednesday, who reported EPS of $0.93 on revenue of $10.81B, compared to forecasts EPS of $0.9476 on revenue of $12.09B.
Sherwin-Williams had beat expectations on Tuesday with first quarter EPS of $1.61 on revenue of $5B, compared to forecast for EPS of $1.54 on revenue of $4.91B.
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