Eastman Announces First-Quarter 2020 Financial Results

KINGSPORT, Tenn., April 30, 2020 (GLOBE NEWSWIRE) -- Eastman Chemical Company (NYSE:EMN) announced its first-quarter 2020 financial results.

(In millions, except per share amounts)			1Q20		1Q19
Sales revenue			$2,241		$2,380
Earnings before interest and taxes (“EBIT”)				368	320
Adjusted EBIT*				382	352
Earnings per diluted share				1.89	1.49
Adjusted earnings per diluted share*				2.03	1.77
Net cash provided by (used in) operating activities				171	(5)
Free cash flow*				72	(111)

*For non-core and unusual items excluded from adjusted earnings and for adjusted provision for income taxes, calculation of free cash flow and of adjusted EBIT margins, and reconciliations to reported company and segment earnings and to cash provided by (used in) operating activities, see Tables 1, 3A, 3B, 4A, 4B, 5A and 5B.