EMN - Eastman Chemical Q4 Results: The Bottom Isn't In Yet
2024-02-01 23:36:57 ET
Summary
- Eastman Chemical reported mixed earnings, beating earnings estimates but experiencing a decline in revenue.
- The company's primary unit, Advanced Materials, saw a decline in sales due to lower demand and reduced capacity utilization.
- Eastman's AFP unit continues to face headwinds, particularly in the Chinese construction market, which could limit future growth.
On Thursday afternoon, Eastman Chemical ( EMN ) reported mixed earnings. Back in November , I suggested investors sell shares. Since then, they have risen 14%, which is a solid absolute return, though it has lagged the S&P 500’s 17% return. While I am not surprised to see shares lag the S&P, the magnitude of their rally has exceeded my expectations. Given results are not better than I expected, I would continue to recommend avoiding EMN stock....
Eastman Chemical Q4 Results: The Bottom Isn't In Yet