This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Eastman Chemical's CEO Discusses Q1 2012 Results - Earnings Call Transcript

In addition, we said we expect to close the Solutia acquisition by midyear 2012, and we remain on track to do just that. And we guided full year 2012 EPS to be approximately $5 and that the pension accounting change would add approximately $0.30 per share, so we are confirming our full year EPS guidance, and I'll talk more about that in a few minutes.

Moving to Slide 4. As I mentioned, last night we reported EPS of $1.22. Revenue increased 4%, primarily reflecting higher selling prices. Operating earnings declined year-over-year in each of the segments, except Fibers, and we increased our spending in Other as we continue to fund organic growth initiatives such as Perennial Wood. Sequentially, operating earnings increased by almost $100 million, reflecting a nice bounce back from the challenging fourth quarter business environment and seasonally stronger sales volume, which increased 8% sequentially.

Now to the segments, starting with CASPI on Slide 5. CASPI began 2012 with a strong quarter. Operating earnings were $98 million, down somewhat from first quarter '11 as there were some pre-buying in the polymers product lines in the year ago quarter, but up about $40 million from the fourth quarter, helped by seasonally higher sales volume, which increased 12% sequentially. Looking at our expectations for full year 2012, all of CASPI's main product lines are operating at high levels. They're also benefiting from the Regalite hydrocarbon resin expansion completed during fourth quarter 2011.

Read the rest of this transcript for free on seekingalpha.com

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,113.11 +32.97 0.18%
S&P 500 2,119.34 +1.65 0.08%
NASDAQ 5,090.4830 -1.6020 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs