Home / Knowledge / News / Textiles / Eastman Chemical Q3 revenues up 3%
Eastman Chemical Q3 revenues up 3%
25
Oct '13
Eastman Chemical Company announced earnings, of $1.68 per diluted share for third quarter 2013 versus $1.57 per diluted share for third quarter 2012. Reported earnings were $1.97 per diluted share in third quarter 2013 and $0.99 per diluted share in third quarter 2012.

“Our solid third-quarter earnings keep us on track for a fourth consecutive year of double-digit earnings growth despite continued global economic uncertainty and volatile raw material and energy costs,” said Jim Rogers, chairman and CEO. “Cash generation was also strong in the quarter, and we expect to continue to generate strong free cash flow for years to come.”

Corporate Results - 3Q 2013 versus 3Q 2012

Sales revenue for third quarter 2013 was $2.3 billion, a 3 percent increase compared with third quarter 2012 due primarily to higher sales volume in the Additives & Functional Products and Advanced Materials segments, partially offset by lower sales revenue in the Adhesives & Plasticizers segment. 

Operating earnings in third quarter 2013 were $479 million compared to $263 million in third quarter 2012.

Segment Results - 3Q 2013 versus 3Q 2012

Additives & Functional Products – Sales revenue increased primarily due to higher sales volume of solvents product lines attributed to strengthened coatings demand in the building and construction market supported by recent capacity additions at the Longview, Texas facility.  Higher sales revenue was also the result of higher sales volume for cellulosic polymers and Crystex insoluble sulfur, both attributed to increased demand in the transportation market.

Third-quarter 2013 sales revenue included revenue from sales of certain products sold primarily into the tires market which were previously reported in the Adhesives & Plasticizers segment. Third-quarter 2012 operating earnings included $19 million of additional costs of acquired Solutia inventories.

Excluding these costs, operating earnings increased to $111 million in third quarter 2013 compared with $105 million in third quarter 2012. The increase was primarily due to higher sales volume partially offset by higher raw material and energy costs, particularly for propane.

Click here to read full results

Eastman Chemical Company


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 23rd Oct 2021

FDRA urges US govt to remove tariffs causing kids' shoe price spikes

The Footwear Distributors and Retailers of America (FDRA) has sent...

Pic: Sorbis / Shutterstock.com

Fashion | On 23rd Oct 2021

Calvin Klein & Louis Vuitton top 2 trustworthy brands for US customers

Calvin Klein, an iconic American brand that has existed since 1968,...

Pic: Breuninger

E-commerce | On 23rd Oct 2021

Fashion retailer Breuninger to launch e-commerce portal in Poland

After Austria (2017) and Switzerland (2019), fashion company...

Interviews View All

Florian Heubrandner, Lenzing AG

Florian Heubrandner
Lenzing AG

Sustainable and eco-friendly fibres remain in the minority

Textile Industry, Head honchos

Textile Industry
Head honchos

Extension of RoSCTL to boost textile exports

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchains will be in heavy use by early adopters by 2025

Mumin Can Eker,

Mumin Can Eker

Maseksport Inc is a readymade garment exporter. Founded in Izmir in 1989,...

Ahmet Gecikli,

Ahmet Gecikli

Ser Mekatronik, founded in 2008, is specialised for providing mechanical...

Noemi Sanchez,

Noemi Sanchez

Established since 1846, Evlox is a specialised denim manufacturer with its ...

Wolfgang Plasser, Lenzing AG

Wolfgang Plasser
Lenzing AG

The Lenzing Group is an international company headquartered in Austria...

Sanjay Raut, Garware Technical Fibres Ltd

Sanjay Raut
Garware Technical Fibres Ltd

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Johann-Philipp Dilo, Dilo Group

Johann-Philipp Dilo
Dilo Group

German company Dilo Group is one of the leading equipment suppliers of...

Reynu Taandon, Label Reynu Taandon + Nikhita

Reynu Taandon
Label Reynu Taandon + Nikhita

Renowned womenswear designer <b>Reynu Taandon </b>has been serving the...

Abhishek Agarwal, Purple Style Labs

Abhishek Agarwal
Purple Style Labs

Late Indian fashion designer Wendell Rodricks, is known for his...

Raghavendra Rathore, Label Raghavendra Rathore Jodhpur

Raghavendra Rathore
Label Raghavendra Rathore Jodhpur

Being one of the first designers to use the "Brand India" positioning for...

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


October 2021

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


Advanced Search