XM does not provide services to residents of the United States of America.

Eastman Chemical beats Q3 profit estimates on higher sales



<html xmlns="http://www.w3.org/1999/xhtml"><head><title>Eastman Chemical beats Q3 profit estimates on higher sales</title></head><body>

Oct 31 (Reuters) -Eastman Chemical EMN.N beat Wall Street estimates for third-quarter profit on Thursday, driven by higher revenues amid a pickup in global manufacturing activity and an end to destocking, while also tightening its full-year earnings outlook.

The company, however, flagged that due to normal seasonal volume declines across key end markets, fourth-quarter earnings before interest and taxes could be lower than those of the third quarter.

"After a year in which end-market demand was muted and showed little signs of improvement, we are projecting modest growth from a low base across most of our end markets in 2025 compared to 2024," the company said in its prepared remarks.

The chemicals industry, which had previously been dealing with high inventory that led to destocking, is now facing weaker demand in markets like China and Europe.

But U.S. manufacturing has held steady albeit at weaker levels in September, and new orders improved, which, together with falling interest rates, bode well for a rebound in activity in the coming months, benefiting companies like Eastman.

Eastman, which makes a vast range of chemicals used in manufacturing a variety of end-products in the construction, agricultural and automotive sectors, saw sales rise 8.7% to $2.46 billion.

Analysts were expecting $2.38 billion for the quarter ended Sept. 30, according to data compiled by LSEG.

The company saw most of its earnings come from the U.S. and Canada, where revenues grew 6.8% to $1.03 billion in the quarter.

Eastman tightened its full-year profit forecast to be in the range of $7.50 per share to $7.70 per share, from a prior forecast of $7.40 to $7.85 each, due to higher planned maintenance costs for their assets in the Advanced Materials segment.

The Tennessee-based firm posted an adjusted profit of $2.26 per share in the July-September quarter, compared with analysts' estimates of $2.14 per share, according to data compiled by LSEG.



Reporting by Seher Dareen in Bengaluru; editing by Alan Barona

</body></html>

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.