Eastman Chemical’s Q3 Non-GAAP EPS of $2.05 beats analysts’ estimates by $0.05

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Eastman Chemical ($NYSE:EMN) is a US-based chemical company that produces a wide range of chemicals, plastics, and fibers. The company’s third-quarter non-GAAP EPS of $2.05 beat analysts’ estimates by $0.05. This was driven by higher sales in the company’s performance plastics and chemicals businesses. Eastman Chemical is expecting strong demand for its products in the fourth quarter, driven by the continued global economic recovery.

Earnings

In the earning report of FY2022 Q2 ending June 30, EASTMAN CHEMICAL earned 10.9B USD in total revenue, earned 1.2B USD in net income. Compared to previous year, 3.8% increase in total revenue, 33.3% increase in net income. EASTMAN CHEMICAL’s total revenue reached from 8.5B USD to 10.9B USD in the last 3 years. The company produces a wide range of chemicals, advanced materials, and fibers that are found in items people use every day.

Price History

On Thursday, Eastman Chemical‘s stock opened at $75.9 and closed at $75.6, down by 0.3% from its last closing price of $75.8. The company attributed the beat to higher sales in its plastics, chemicals and fibers segment, as well as cost savings. “We are pleased with our third quarter results, which were driven by higher sales and cost savings,” said Eastman Chemical CEO Mark Costa in a statement. “Our team remains focused on executing our strategy and delivering value for our shareholders.”

VI Analysis

EASTMAN CHEMICAL is a large American chemical company with a long history. The company’s fundamentals reflect its long term potential, and the company is classified as a ‘rhino’ a type of company that has achieved moderate revenue or earnings growth. EASTMAN CHEMICAL is strong in dividend, profitability, and medium in growth. The company’s weak point is asset, but it is likely to sustain future operations in times of crisis.

VI Peers

Eastman Chemical Co is one of the world’s leading producers of chemicals and related products, with manufacturing facilities in over 30 countries. Its main competitors are Indo Amines Ltd, Deepak Nitrite Ltd, and TECIL Chemicals & Hydro Power Ltd.

– Indo Amines Ltd ($BSE:524648)

Indo Amines Ltd is a publicly traded company with a market capitalization of 8.96 billion as of 2022. The company has a return on equity of 16.75%. Indo Amines Ltd is engaged in the business of manufacturing and selling amino acids and their derivatives. The company’s products are used in a variety of industries, including pharmaceuticals, animal feed, food and beverages, and agriculture.

– Deepak Nitrite Ltd ($BSE:506401)

Deepak Nitrite Ltd is an Indian company that manufactures and sells chemicals. The company has a market cap of 305.73B as of 2022 and a Return on Equity of 25.76%. Deepak Nitrite Ltd is a publicly traded company listed on the Bombay Stock Exchange. The company has a diversified product portfolio and manufactures a wide range of chemicals including inorganic and organic chemicals, pigments, and dyes.

Summary

Eastman Chemical is a diversified chemical company that produces a wide range of products, including chemicals, plastics, and fibers. The company has a wide range of products and is a leading provider of chemicals, plastics, and fibers. The company’s shares are trading at a relatively high price-to-earnings ratio, but this is due in part to the company’s strong growth prospects. Eastman Chemical is a diversified chemical company that produces a wide range of products, including chemicals, plastics, and fibers.

Eastman Chemical is a large and diversified company with a strong history of profitability. The company has a wide range of products and is a leading provider of chemicals, plastics, and fibers. The company’s shares are trading at a relatively high price-to-earnings ratio, but this is due in part to the company’s strong growth prospects.