(RTTNews) - Eastman Chemical (EMN) reported earnings for second quarter that dropped from the same period last year.
The company's profit came in at $27 million, or $0.20 per share. This compares with $258 million, or $1.85 per share, in last year's second quarter.
Excluding items, Eastman Chemical reported adjusted earnings of $116 million or $0.85 per share for the period.
Analysts had expected the company to earn $1.05 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 18.6% to $1.92 billion from $2.36 billion last year.
Eastman Chemical earnings at a glance:
-Earnings (Q2): $116 Mln. vs. $277 Mln. last year. -EPS (Q2): $0.85 vs. $1.99 last year. -Analysts Estimate: $1.05 -Revenue (Q2): $1.92 Bln vs. $2.36 Bln last year.
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