Eastman Chemical (EMN) Q1 Earnings Beat Estimates

Group 1: Earnings Performance - Eastman Chemical reported quarterly earnings of $1.91 per share, exceeding the Zacks Consensus Estimate of $1.89 per share, and up from $1.61 per share a year ago, representing an earnings surprise of 1.06% [1] - The company posted revenues of $2.29 billion for the quarter, missing the Zacks Consensus Estimate by 0.81%, and down from $2.31 billion year-over-year [2] - Over the last four quarters, Eastman Chemical has surpassed consensus EPS estimates four times but has topped consensus revenue estimates only once [2] Group 2: Stock Performance and Outlook - Eastman Chemical shares have declined approximately 13.7% since the beginning of the year, compared to a decline of 8.6% for the S&P 500 [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to those expectations [4] - The current consensus EPS estimate for the next quarter is $2.19 on revenues of $2.38 billion, and for the current fiscal year, it is $8.36 on revenues of $9.53 billion [7] Group 3: Industry Context - The Zacks Industry Rank indicates that the Chemical - Diversified sector is currently in the bottom 10% of over 250 Zacks industries, which may negatively impact stock performance [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that investors should monitor these revisions closely [5]