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Analysts on Wall Street project that Eastman Chemical (EMN) will announce quarterly earnings of $1.88 per share in its forthcoming report, representing an increase of 16.8% year over year. Revenues are projected to reach $2.32 billion, increasing 0.4% from the same quarter last year.
Over the last 30 days, there has been a downward revision of 1.1% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance 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.
With that in mind, let's delve into the average projections of some Eastman Chemical metrics that are commonly tracked and projected by analysts on Wall Street.
The consensus among analysts is that 'Net Sales- Chemical Intermediates' will reach $526.41 million. The estimate points to a change of +0.7% from the year-ago quarter.
Analysts' assessment points toward 'Net Sales- Fibers' reaching $323.18 million. The estimate indicates a year-over-year change of -2.4%.
The consensus estimate for 'Net Sales- Advanced Materials' stands at $764.65 million. The estimate indicates a year-over-year change of +2.2%.
Based on the collective assessment of analysts, 'Net Sales- Additives & Functional Products' should arrive at $706.46 million. The estimate suggests a change of +0.4% year over year.
The average prediction of analysts places 'Net Sales- Other' at $4.50 million. The estimate suggests a change of +12.5% year over year.
Analysts forecast 'Adjusted EBIT- Additives & Functional Products' to reach $127.78 million. The estimate compares to the year-ago value of $109 million.
According to the collective judgment of analysts, 'Adjusted EBIT- Advanced Materials' should come in at $114.17 million. Compared to the current estimate, the company reported $104 million in the same quarter of the previous year.
It is projected by analysts that the 'Adjusted EBIT- Chemical Intermediates' will reach $22.78 million. The estimate compares to the year-ago value of $16 million.