Eastman Chemical Q1 Revenue Down, Profit Margins Squeezed

TL;DR

Eastman Chemical's Q1 revenue dropped to $5.55B from $5.79B last year. Profitability also declined.

AI Summary

Eastman Chemical Company filed its 10-Q for the period ending March 31, 2024. The company reported revenues of $5.55 billion for the first quarter of 2024, a decrease from $5.79 billion in the same period of 2023. Net earnings attributable to common stockholders were $449 million, or $0.68 per diluted share, compared to $520 million, or $0.77 per diluted share, in the prior year's first quarter.

Why It Matters

This filing provides insight into Eastman Chemical's financial performance in early 2024, indicating a slowdown in sales and profitability which could impact investor confidence and future strategic decisions.

Risk Assessment

Risk Level: medium — The filing indicates a decrease in revenue and net earnings, suggesting potential challenges in the company's market or operations.

Key Numbers

• $5.55B — Q1 2024 Revenue (Represents a decrease from the prior year's quarter.)
• $5.79B — Q1 2023 Revenue (Prior year comparable period revenue.)
• $0.68 — Q1 2024 Diluted EPS (Lower than the $0.77 reported in Q1 2023.)

Key Players & Entities

• EASTMAN CHEMICAL CO (company) — Filer
• 20240331 (date) — Reporting Period End Date
• $5.55 billion (dollar_amount) — Q1 2024 Revenue
• $5.79 billion (dollar_amount) — Q1 2023 Revenue
• $449 million (dollar_amount) — Q1 2024 Net Earnings
• $0.68 (dollar_amount) — Q1 2024 Diluted Earnings Per Share
• $520 million (dollar_amount) — Q1 2023 Net Earnings
• $0.77 (dollar_amount) — Q1 2023 Diluted Earnings Per Share

FAQ

From the Filing

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