Investing.com - Eastman Chemical (NYSE:EMN) reported on Thursday fourth quarter earnings that missed analysts' forecasts and revenue that topped expectations.
Eastman Chemical announced earnings per share of $1.81 on revenue of $2.69B. Analysts polled by Investing.com anticipated EPS of $1.87 on revenue of $2.4B.
Eastman Chemical shares are down 1% from the beginning of the year, still down 9.14% from its 52 week high of $130.47 set on June 1, 2021. They are outperforming the S&P 500 which is down 9.23% 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 Sherwin-Williams on Thursday, who reported EPS of $1.34 on revenue of $4.76B, compared to forecasts EPS of $1.68 on revenue of $4.76B.
Freeport-McMoran had beat expectations on Wednesday with fourth quarter EPS of $0.96 on revenue of $6.16B, compared to forecast for EPS of $0.9519 on revenue of $6.48B.
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