Eastman Chemical Company Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year ended December 31, 2018; Provides Earnings Guidance for the Year 2019
For the year, the company reported sales revenue of $10,151 million compared to $9,549 million a year ago. Earnings before interest and taxes (EBIT) was $1,552 million compared to $1,530 million a year ago. Net earnings was $1,084 million compared to $1,388 million a year ago. Basic earnings per share attributable to the company was $7.65 against $9.56 a year ago. Earnings per diluted share was $7.56 compared to $9.47 a year ago.
For the year 2019, The company expects slower economic growth this year, with some of the challenges from the fourth quarter to persist in the first quarter. With this in mind, company announced that it remain focused on growing new business revenue leveraging its innovation-driven growth model. The company expects the adjusted EPS to be between 6% to 10% for full year 2019.