Eastman Chemical Q4 Earnings Drop 3%

(RTTNews) - Eastman Chemical (EMN) announced a profit for fourth quarter that fell compared to the same period last year.

The company said its earnings fell to $239 million, or $1.59 per share. This was down from $246 million, or $1.64 per share, in last year's fourth quarter.

Analysts had expected the company to earn $1.55 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 5.1% to $2.23 billion. This was down from $2.35 billion last year.

Eastman Chemical earnings at a glance:

-Earnings (Q4): $239 Mln. vs. $246 Mln. last year. -Earnings Decline (Y-o-Y): -2.8% -EPS (Q4): $1.59 vs. $1.64 last year. -EPS Decline (Y-o-Y): -3.0% -Analysts Estimate: $1.55 -Revenue (Q4): $2.23 Bln vs. $2.35 Bln last year. -Revenue Change (Y-o-Y): -5.1%