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

ITC, ICS tie up to help Moroccan textile value chain

Textiles | On 21st Apr 2018

ITC, ICS tie up to help Moroccan textile value chain

The International Trade Centre (ITC) has partnered with ICS, which...

Bangladesh garment manufacturers call for fair pricing

Apparel/Garments | On 21st Apr 2018

Bangladesh garment manufacturers call for fair pricing

Bangladesh garment manufacturers want a ‘commensurate adjustment’ by...

Pak ministry proposes extension to PM package for 2018-19

Textiles | On 21st Apr 2018

Pak ministry proposes extension to PM package for 2018-19

Pakistani textile ministry has reportedly proposed extending the...

Interviews View All

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Kai Poehler
Voith Paper GmbH & Co. KG

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

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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