Eastman Chemical Company announced earnings, excluding non-core or non-recurring items, of $1.35 per diluted share for fourth quarter 2013 versus $1.19 per diluted share for fourth quarter 2012. Reported earnings were $2.22 per diluted share in fourth quarter 2013 and a loss of $0.35 per diluted share in fourth quarter 2012.
“Our outstanding results in 2013 represent the fourth consecutive year of strong earnings growth for Eastman,” said Mark Costa, CEO. “This high level of performance continues to be driven by our market-leading businesses, balanced deployment of our solid cash flow, and the significant actions we have taken to improve our portfolio.”
Sales revenue for fourth quarter 2013 was $2.3 billion, a 4% increase compared with fourth quarter 2012 due primarily to higher sales volume in the Additives & Functional Products, Advanced Materials, and Fibers segments.Operating earnings in fourth quarter 2013 were $562 million compared to a loss of $44 million in fourth quarter 2012.