Analysts on Wall Street project that Eastman Chemical (EMN) will announce quarterly earnings of $0.76 per share in its forthcoming report, representing a decline of 59.4% year over year. Revenues are projected to reach $2.04 billion, declining 9.3% from the same quarter last year.
The current level reflects an upward revision of 0.4% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
In light of this perspective, let's dive into the average estimates of certain Eastman Chemical metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts expect 'Net Sales- Chemical Intermediates' to come in at $445.28 million. The estimate suggests a change of -11.5% year over year.
The collective assessment of analysts points to an estimated 'Net Sales- Fibers' of $244.64 million. The estimate suggests a change of -23.8% year over year.
Analysts' assessment points toward 'Net Sales- Advanced Materials' reaching $677.13 million. The estimate indicates a change of -6% from the prior-year quarter.
Analysts forecast 'Net Sales- Additives & Functional Products' to reach $668.41 million. The estimate indicates a change of -4% from the prior-year quarter.
The consensus among analysts is that 'Net Sales- Other' will reach $5.00 million.
According to the collective judgment of analysts, 'Adjusted EBIT- Additives & Functional Products' should come in at $88.79 million. Compared to the current estimate, the company reported $128.00 million in the same quarter of the previous year.
The consensus estimate for 'Adjusted EBIT- Advanced Materials' stands at $46.76 million. Compared to the current estimate, the company reported $107.00 million in the same quarter of the previous year.
Based on the collective assessment of analysts, 'Adjusted EBIT- Chemical Intermediates' should arrive at -$4.29 million. Compared to the current estimate, the company reported $20.00 million in the same quarter of the previous year.
Analysts predict that the 'Adjusted EBIT- Fibers' will reach $62.33 million. Compared to the current estimate, the company reported $103.00 million in the same quarter of the previous year.
View all Key Company Metrics for Eastman Chemical here>>>
Shares of Eastman Chemical have experienced a change of +7.1% in the past month compared to the +0.8% move of the Zacks S&P 500 composite. With a Zacks Rank #4 (Sell), EMN is expected to underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Eastman Chemical Company (EMN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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