Eastman Chemical reported earnings of $2.01 a share for the second quarter, above analysts' estimates $1.83 a share. Revenue grew 2.8% year over year to $2.53 billion for the quarter, below analysts' estimates of $2.65 billion.
"Our record results in second quarter and strong performance in the first half of the year demonstrate the quality of our robust specialty portfolio, the value of our acquisitions, and most importantly our ability to focus on execution and deliver results," Chairman and CEO Mark Costa said in a statement.
About 1.8 million shares of Eastman Chemical were traded by 10:44 a.m. Tuesday, above the company's average trading volume of about 1.6 million shares a day.
TheStreet Ratings team rates EASTMAN CHEMICAL CO as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate EASTMAN CHEMICAL CO (EMN) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, attractive valuation levels and good cash flow from operations. We feel its strengths outweigh the fact that the company has had sub par growth in net income."
You can view the full analysis from the report here: EMN Ratings Report