Eastman Chemical reports Q4 adjusted EPS $1.87, consensus $1.57

Reports Q4 revenue $2.25B, consensus $2.27B. “The fourth quarter capped off a tremendous year for Eastman, with adjusted earnings per share growing 23 percent in 2024,” said Mark Costa, Board Chair and CEO. “As we ended the year, demand was consistent with our expectations, and we saw seasonal declines across our key end markets. Adjusted EBIT margin increased 350 basis points compared to last year and was supported by higher sales volume/mix, strong operating leverage, and commercial excellence. Throughout 2024, the Eastman team found ways to deliver earnings in line with our commitments despite facing significant macroeconomic uncertainty and persistently weak end-market demand. We also added to our track record of strong cash generation by delivering $1.3 billion of cash from operations in 2024. Consistent with our capital allocation strategy, we continued our investment in growth and returned a meaningful amount of cash to shareholders. In addition to driving strong financial results, we also successfully started up the world’s largest molecular recycling facility, significantly advancing our leadership position in the circular economy. We operated the Kingsport methanolysis facility well in the fourth quarter and made good progress building our Renew sales funnel. As we head into 2025, we are positioned to leverage our innovation-driven growth model to drive growth above underlying market trends. I am confident in our winning team and their ability to drive resilient earnings and cash flow going forward.”