On Thursday the Kingsport, Tenn.-based company said its second-quarter profit fell 43 percent to $65 million, or 89 cents per share, well above the 71-cent estimate by analysts, according to a Thomson Reuters poll.
The company said it expects full-year earnings to be "toward the high end" of its previous guidance of between $2 and $3 per share. Analysts have projected earnings of $2.48 per share.
Deutsche Bank ( DB - news - people ) analyst Jason Minor said the second-quarter results underscored the company's operating strength.
With cost reductions gaining traction, volumes picking up and margins up sharply versus the first quarter, Eastman's second-quarter results highlighted its operating leverage as earnings again improved beyond expectations."
The company said it expects full-year earnings to be "toward the high end" of its previous guidance of between $2 and $3 per share. Analysts have projected earnings of $2.48 per share.
Deutsche Bank ( DB - news - people ) analyst Jason Minor said the second-quarter results underscored the company's operating strength.
With cost reductions gaining traction, volumes picking up and margins up sharply versus the first quarter, Eastman's second-quarter results highlighted its operating leverage as earnings again improved beyond expectations."
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