Home / Knowledge / News / Textiles / Operating earnings for Q2 slip 19.8% at Eastman Chemical
Operating earnings for Q2 slip 19.8% at Eastman Chemical
01
Aug '16
Courtesy: Eastman
Courtesy: Eastman
For the second quarter ended June 30, 2016, operating earnings at Eastman Chemical Company slipped 19.8 per cent from a year ago period to $376 million.

Resultantly, reported earnings too dipped to $1.71 per diluted share for the reporting quarter as against $1.98 per diluted share for the prior year's second quarter.

“Earnings excluding non-core items were $1.68 per diluted share for the three months ended June 30, 2016 compared to $2.01 per diluted share in the second quarter of 2015.

According to the company, operating earnings and earnings per share declined primarily due to declines in its Chemical Intermediates and Fibres divisions.

For the quarter under review, sales revenue too was down 9.31 per cent to $2,297 vis-à-vis $2,533 million in the three months to June 30, 2015.

“Sales revenue declined primarily due to lower selling prices particularly in the Chemical Intermediates segment, the company explained.

Eastman revised downwards its adjusted 2016 earnings per share by 10 per cent year on year as against its previous expectation of a decline of approximately 5 per cent. (AR)

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 9th Dec 2016

ACIMIT signs MoU with Pakistan textile bodies

In a bid to strengthen the trading in garments and textiles between...

Textiles | On 9th Dec 2016

‘Less demand may make it hard to achieve export target’

The $48 billion target for textiles and garment exports for 2016-17...

Textiles | On 9th Dec 2016

GST Council may decrease tax rates in future: CBEC

The goods and services tax (GST) Council might reduce the proposed...

Interviews View All

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search