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Today, Eastman Chemical Company (NYSE:EMN) released its financial results for the second quarter of 201
According to the data, the sales revenue in the second quarter was US$363 billion, the EBIT was US$371 million, and the adjusted EBIT was US$389 million, a decrease from the relevant data in the second quarter of 201
Eastman Chairman and Chief Executive Officer Mark Costa said, "In the second quarter, we continued to face challenging global economic conditions as trade concerns impacted markets for consumer discretionary such as transportation and consumer durabl.
Despite these challenges, his adjusted earnings before interest and taxes (EBIT) in the second quarter of 2019 continued to rise, rising 11% compared to the previous quart.
Comparison of business performance between the second quarter of 2019 and the second quarter of 2018
Comparison of the performance of each business between the second quarter of 2019 and the second quarter of 2018 2019 Comparison of the performance of each business between the second quarter of 2019quarter of 2018 2018 2018Additives and Functional Materials - Sales revenue declined due to lower volumes, unfavorable product mix, lower selling prices, unfavorable movements in foreign exchange rates, and other facto.
Additives and Functional Materials - Additives and Functional Materials - Additives and Functional Materials-Additives and Functional Materials-
In addition to challenges posed by trade pressures, the African swine fever outbreak in China has also led to a drop in demand for animal nutrition produc.
The decrease in reported and adjusted EBIT was primarily due to lower volumes, unfavorable product mix and unfavorable movements in foreign exchange rates, partially offset by continued cost manageme.
Eastman's key financial figures for the second quarter of 201
Specialty Materials - Sales revenue decreased due to lower sales volume and unfavorable changes in foreign exchange rate.
Special materials - - Special materials - - -
Reported EBIT for the second quarter of 2018 includes insurance benefits over and above costs from coal gasification even.
Chemical Intermediates - Lower sales revenue was primarily due to lower sales prices for both olefin and acetyl products due to lower raw material prices and increased competiti.
chemical intermediates -- chemical intermediates --
Reported EBIT for the second quarter of 2018 includes insurance benefits over and above costs from coal gasification even.
Fibers - The decline in sales revenue was primarily due to lower acetate tow sal.
fiber - fiber -
Reported EBIT for the second quarter of 2018 includes insurance benefits over and above costs from coal gasification even.
Outlook
Looking aheadCommenting on his outlook for the full year 2019, Costa said: "In the second quarter of this year, we once again achieved sustained adjusted earnings grow.
He further pointed out that due to the Sino-US trade friction and other factors, Eastman continues to face the challenges of the global economic situati.
“As a result, we do not expect much improvement in macroeconomic conditions in the second half of the year, apart from an expected improvement in customer inventorydrawdow.
