Eastman raises Q2, full-year earnings guidance on demand recovery

02 June 2010 14:55  [Source: ICIS news]

TORONTO (ICIS news)--Eastman Chemical on Wednesday raised its second-quarter and 2010 full-year earnings per share (EPS) guidance, citing the global recovery in demand.

“The higher earnings expectations are based on the global recovery in demand, and expectations that this demand level continues in the second half of the year, along with less volatile raw material and energy costs,” the US-based chemicals major said in a brief statement.

The company said it expected second-quarter 2010 earnings per share to be above $1.60 and full-year 2010 earnings per share to be between $5.25-$5.50. Any charges related to restructuring actions were excluded from earnings per share projections, it added.

This compared with Eastman’s earlier guidance from April of second-quarter earnings per share of between $1.50 and $1.60 and full-year earnings per share of $5.00-$5.25. 

In the first quarter of 2010, Eastman's earnings per share were $1.37.

($1 = €0.82)

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By: Stefan Baumgarten
+1 713 525 2653

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