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Eastman Chemical climbs to 52-week high after strong Q4 report

Feb. 02, 2018 3:54 PM ETEastman Chemical Company (EMN) StockEMNBy: Carl Surran, SA News Editor2 Comments
  • Here's a stock that actually posted a 52-week high during today's broad market losses: Eastman Chemical (EMN +1%), which crushed Q4 earnings expectations on an 8% rise in revenues.
  • The sales gain came despite last October's explosion at its coal gasification facility at the Kingsport, Tenn., production hub which disrupted manufacturing operations and reduced sales revenue by ~$40M; EMN CEO Mark Costa said during today's earnings conference call that operations are back to normal.
  • EMN also reaffirms its FY 2018 earnings guidance, seeing EPS rising 8%-12% to $8.22-$8.52 vs. $8.18 analyst consensus estimate.

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