KINGSPORT, Tenn. (AP) _ Eastman Chemical Co. (EMN) on Thursday reported third-quarter earnings of $301 million.
The Kingsport, Tennessee-based company said it had profit of $2.46 per share. Earnings, adjusted for non-recurring gains, were $2.05 per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2 per share.
The specialty chemicals maker posted revenue of $2.71 billion in the period, also beating Street forecasts. Eight analysts surveyed by Zacks expected $2.57 billion.
For the current quarter ending in December, Eastman Chemical expects its per-share earnings to range from $1.10 to $1.40. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.90.
The company expects full-year earnings in the range of $8.05 to $8.35 per share.
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