Eastman Chemical Q1 Profit Surges

Eastman said its quarterly profit rose sharply as sales increased in every region of the world, driving revenue above analysts' expectations. For the first quarter, the company posted net income of $220 million, or $3.04 per share, compared with $101 million, or $1.37 per share, a year before. Earnings from continuing operations were $2.52 per share, and revenue grew 28% to $1.76 billion. Analysts had expected earnings of $1.93 per share on revenue of $1.53 billion, according to Thomson Reuters I/B/E/S.