Here's What Key Metrics Tell Us About Eastman Chemical (EMN) Q1 Earnings

Eastman Chemical (EMN) reported $2.41 billion in revenue for the quarter ended March 2023, representing a year-over-year decline of 11.1%. EPS of $1.63 for the same period compares to $2.06 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $2.37 billion, representing a surprise of +1.81%. The company delivered an EPS surprise of +33.61%, with the consensus EPS estimate being $1.22.

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- Chemical Intermediates: $589 million versus $572.34 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -26.3% change.

• Net Sales- Advanced Materials: $742 million versus the five-analyst average estimate of $743.28 million. The reported number represents a year-over-year change of +0.7%.

• Net Sales- Additives & Functional Products: $777 million versus $712.28 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -3.5% change.

• Net Sales- Fibers: $303 million versus the five-analyst average estimate of $275.03 million. The reported number represents a year-over-year change of +42.3%.

• Adjusted EBIT- Additives & Functional Products: $124 million versus the five-analyst average estimate of $68.05 million.

• Adjusted EBIT- Advanced Materials: $86 million versus $82 million estimated by five analysts on average.

• Adjusted EBIT- Chemical Intermediates: $42 million versus $51.75 million estimated by five analysts on average.

• Adjusted EBIT- Fibers: $94 million compared to the $61.74 million average estimate based on five analysts.

• Adjusted EBIT- Other: -$63 million versus -$51.19 million estimated by four analysts on average.

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

Shares of Eastman Chemical have returned -3.1% over the past month versus the Zacks S&P 500 composite's +2.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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