Profits Surge, Sales Down Slightly

Although revenue fell for the most recent fiscal period, company managed to improve it's earnings per share, earnings were up by 21.41 % to $0.23 per share while Sales fell by -0.86 % to $2.19 billions, year on year.

From preceding quarter, eps dropped from $1.18 per share and Sales increased by 3.02 % from $2.12 billions.
Sales fell at Adhesives or Plasticizers -12.1%, Specialty Fluids or Intermediates -10.15%, Fibers -7.51%, while revenue growth was achieved at Additives or Functional Products +31.44%, Advanced Materials +3.31%.
The results were mixed, where strenght in Additives or Functional Products, Adhesives or Plasticizers, Advanced Materials segments, outweighed profit decline in Specialty Fluids or Intermediates and Fibers. All of this led to 25.93 % increase in company's bottom-line to $34.000 millions in the most recent fiscal period, from net earnings of $27.000 millions reported in the most recent fiscal period a year ago. Eastman Chemical Co also emphasized it's improving profit margins, where net margin rose to 1.56% in most recent fiscal period, and operating margin edged up to 12.95%. Company issued earnings per share guidance between $4.97 and $4.97 for the fiscal year.
Looking into financial results for the fiscal year 2020, Eastman Chemical Co reported Sales of $8.47 billions and net income of $489 millions.

Chemical Manufacturing Company explained also, that Earnings deteriorated by -36.13 % to $3.50 per share from $5.48 in the previous fiscal year, while Sales deteriorated by -8.63 % from $9.27 billions a year ago.

Eastman Chemical Co is expected to report next financial results on April 29, 2021.