Eastman Chemical Co. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Provides Earnings Guidance for the Year 2017
For the year, the company reported sales of $9,008 million compared to $9,648 million a year ago. Operating earnings were $1,404 million compared to $1,384 million a year ago. Earnings per diluted share were $5.84 compared to $5.66 a year ago. Net cash provided by operating activities was $1,385 million compared to $1,624 million a year ago. The company generated $909 million of adjusted free cash flow.
The company announced that consistent with the previous guidance, the company expects adjusted EPS growth in 2017 to be between 8% to 12%.