Research Desk Line-up: Univar Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 10, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Eastman Chemical Co. (NYSE: EMN), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=EMN, following the Company's release of its second quarter fiscal 2017 results on July 27, 2017. The specialty chemical maker outperformed top- and bottom-line expectations and also improved it's adjusted EPS forecasts for fiscal 2017. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

http://protraderdaily.com/register/

Get more of our free earnings reports coverage from other constituents of the Chemicals - Major Diversified industry. Pro-TD has currently selected Univar Inc. (NYSE: UNVR) for due-diligence and potential coverage as the Company announced on August 04, 2017, its financial results for Q2 2017 which ended on June 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Univar when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on EMN; also brushing on UNVR. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=EMN

http://protraderdaily.com/optin/?symbol=UNVR

Earnings Reviewed

For the second quarter fiscal 2017, Eastman Chemical's revenue numbers totaled $2.42 billion compared to revenue of $2.30 billion in Q2 2016, reflecting growth of 5%. The Company's revenue numbers topped analysts' estimates of $2.37 billion.

During Q2 2017, Eastman Chemical's gross profit totaled $651 million compared to gross profit of $605 million in Q2 2016. The Company's operating earnings totaled $420 million for the reported quarter compared to operating earnings of $376 million in the year ago corresponding quarter.

Eastman Chemical reported earnings attributable to the Company of $292 million or $2.00 per diluted share, versus $255 million, or $1.71 per diluted share, for Q2 2016. The Company's adjusted earnings totaled $1.98 per diluted share for the reported quarter versus $1.68 per diluted share for the prior year's comparable quarter.

Segment Results

During Q2 2017, Eastman Chemical's Additives & Functional Products sales totaled $830 million compared to $770 million for Q2 2016; the growth was attributed to higher sales volume and higher selling prices for most product lines. Operating earnings for the segment totaled $159 million down compared to $168 million in the prior year's same quarter due to higher raw material and energy costs.

Eastman Chemical's Advanced Materials business sales were $657 million, up 2% on a y-o-y basis driven by higher sales volume across the segment, including premium products such as Eastman TritanTM copolyester, Saflex® acoustic interlayers, and performance films. The division's operating earnings increased to $137 million from $132 million in the prior year's comparable quarter, primarily due to higher sales volume and fixed cost leverage.

For Q2 2017, Eastman Chemical's Chemical Intermediates segment sales jumped 11% to $703 million on a y-o-y basis, due to higher selling prices attributed to higher raw material prices and continued improvement in competitive conditions. The segment's operating earnings rocketed 453% to $83 million compared to operating earnings of $15 million in the prior year's corresponding quarter, primarily due to higher selling prices, lower commodity hedge levels, and lower scheduled maintenance costs.

Cash Flow

During Q2 2017, Eastman Chemical generated $431 million in cash from operating activities, primarily due to strong net earnings partially offset by increased working capital. The Company's share repurchases for the reported quarter totaled $100 million. During H1 2017, Eastman Chemical returned approximately $325 million to shareholders through share repurchases and dividends.

On August 03rd, 2017, Eastman Chemical's Board of Directors declared a quarterly cash dividend of $0.51 per share on the Company's common stock. The dividend is payable October 02, 2017, to stockholders of record as of September 15, 2017.

Outlook

Eastman Chemical's management stated that they expect their innovative, high margin products to continue to drive compelling growth in what remains an uncertain global business environment. Disciplined cost management and capital allocation are also expected to continue contributing to earnings growth, helping to offset challenges in fibers and ethylene prices. Eastman Chemical increased its adjusted 2017 EPS growth range of 10%-12%. The Company is also targeting $1 billion in free cash flow for 2017.

Stock Performance

Eastman Chemical's share price finished yesterday's trading session at $84.26, rising slightly by 0.17%. A total volume of 801.79 thousand shares have exchanged hands. The Company's stock price surged 6.98% in the last three months, 8.23% in the past six months, and 28.66% in the previous twelve months. Additionally, the stock rallied 12.03% since the start of the year. Shares of the Company have a PE ratio of 13.51 and have a dividend yield of 2.42%. The stock currently has a market cap of $12.27 billion.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: contact@protraderdaily.com

Phone number: (917) 341.4653

Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily