Eastman Chemical (EMN) Reports Q1 Earnings: What Key Metrics Have to Say

For the quarter ended March 2024, Eastman Chemical (EMN) reported revenue of $2.31 billion, down 4.2% over the same period last year. EPS came in at $1.61, compared to $1.63 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $2.26 billion, representing a surprise of +2.25%. The company delivered an EPS surprise of +14.18%, with the consensus EPS estimate being $1.41.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Eastman Chemical performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Net Sales- Advanced Materials: $748 million compared to the $729.05 million average estimate based on five analysts. The reported number represents a change of +0.8% year over year.

• Net Sales- Additives & Functional Products: $704 million compared to the $709.43 million average estimate based on five analysts. The reported number represents a change of -9.4% year over year.

• Net Sales- Chemical Intermediates: $523 million versus $499.86 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -11.2% change.

• Net Sales- Fibers: $331 million versus the five-analyst average estimate of $321.81 million. The reported number represents a year-over-year change of +9.2%.

• Net Sales- Other: $4 million versus $2 million estimated by two analysts on average.

• Adjusted EBIT- Additives & Functional Products: $109 million versus $89.65 million estimated by five analysts on average.

• Adjusted EBIT- Advanced Materials: $104 million compared to the $95.92 million average estimate based on five analysts.

• Adjusted EBIT- Chemical Intermediates: $16 million versus the five-analyst average estimate of $22.90 million.

• Adjusted EBIT- Other: -$72 million compared to the -$56 million average estimate based on five analysts.

• Adjusted EBIT- Fibers: $117 million versus $103.51 million estimated by five analysts on average.

View all Key Company Metrics for Eastman Chemical here>>>

Shares of Eastman Chemical have returned -3.2% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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