Home / Knowledge / News / Textiles / Eastman posts strong sales & earnings for Q4
Eastman posts strong sales & earnings for Q4
27
Jan '12
Eastman Chemical Company announced earnings from continuing operations of $0.71 per diluted share for fourth quarter 2011 versus $0.11 per diluted share for fourth quarter 2010. Excluding $26 million of asset impairments and restructuring charges and $115 million of early debt extinguishment costs, fourth-quarter 2010 earnings from continuing operations were $0.70 per diluted share.

"Despite a challenging and uncertain economic environment during the quarter, we delivered earnings per share that are among our best for a fourth quarter, and our full-year EPS was the best in our history," said Jim Rogers, Chairman and CEO. "Given the strength of our businesses and our solid balance sheet, we remain well positioned for full-year 2012 EPS growth."

Sales revenue for fourth quarter 2011 was $1.7 billion, an 18 percent increase compared to fourth quarter 2010 primarily due to increased selling prices and higher sales volume. The increase in selling prices was in response to higher raw material and energy costs, particularly for paraxylene, propane, and wood pulp. The higher sales volume was primarily in the Performance Chemicals and Intermediates segment.

Operating earnings in fourth quarter 2011 were $163 million compared to $161 million in fourth quarter 2010. Excluding asset impairments and restructuring charges, fourth-quarter 2010 operating earnings were $187 million. Operating earnings declined, excluding fourth quarter 2010 asset impairments and restructuring charges, primarily in the Specialty Plastics and PCI segments.

Coatings, Adhesives, Specialty Polymers and Inks – Sales revenue increased by 12 percent primarily due to higher selling prices which were in response to higher raw material and energy costs, particularly for propane. Operating earnings in fourth quarter 2011 were $52 million while fourth-quarter 2010 operating earnings excluding restructuring charges were $53 million. Operating earnings were slightly lower as higher raw material and energy costs were mostly offset by higher selling prices.

Fibers – Sales revenue increased by 8 percent primarily due to higher selling prices in response to higher raw material and energy costs, particularly for wood pulp, as well as higher acetate tow volume in Asia Pacific. Fourth-quarter 2011 operating earnings were $80 million while fourth-quarter 2010 operating earnings excluding restructuring charges were $78 million. Operating earnings in fourth quarter 2011 increased due to higher acetate tow sales volume and higher selling prices, partially offset by higher raw material and energy costs.

Eastman's full-year 2011 sales revenue was $7.2 billion, an increase of 23 percent year over year. The increase was primarily due to increased selling prices and higher sales volume. Selling prices increased in response to higher raw material and energy costs, primarily for propane, paraxylene, and wood pulp. The higher sales volume was primarily dueto growth in PCI plasticizer product lines, the fourth-quarter 2010 restart of a previously idled olefins cracking unit at the Longview, Texas, facility, and strengthened end-use demand primarily for CASPI segment products.


Must ReadView All

Courtesy: Kai Pilger from Pexels

Textiles | On 24th Apr 2018

Pakistan’s textile exports up 7.77% in July-March FY18

The value of textile and garment exports from Pakistan increased by...

Alliance to form joint entity for safety in factories

Apparel/Garments | On 24th Apr 2018

Alliance to form joint entity for safety in factories

On the 5th anniversary of the Rana Plaza Collapse, The Alliance for...

China’s Alibaba partners with Thailand for digital trade

Textiles | On 24th Apr 2018

China’s Alibaba partners with Thailand for digital trade

China’s Alibaba Group recently signed an agreement with the Thai...

Interviews View All

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Urmil Arya

Sushila International, a well established textile organisation established ...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search