Investing.com - Eastman Chemical (NYSE:EMN) reported on Monday second quarter earnings that missed analysts' forecasts and revenue that topped expectations.
Eastman Chemical announced earnings per share of $0.85 on revenue of $1.92B. Analysts polled by Investing.com anticipated EPS of $1.04 on revenue of $1.83B.
Eastman Chemical shares are down 5% from the beginning of the year , still down 10.50% from its 52 week high of $83.99 set on November 8, 2019. They are under-performing the S&P 500 which is up 1.98% from the start of the year.
Eastman Chemical follows other major Basic Materials sector earnings this month
Eastman Chemical's report follows an earnings beat by Air Products on July 23, who reported EPS of $2.01 on revenue of $2.07B, compared to forecasts EPS of $1.98 on revenue of $2.06B.
Sherwin-Williams had beat expectations on July 28 with second quarter EPS of $7.1 on revenue of $4.6B, compared to forecast for EPS of $5.69 on revenue of $4.55B.
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