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Eastman Chemical Firm (NYSE: EMN) reported decrease gross sales and adjusted revenue for the second quarter of 2023. The administration offered steering for the complete fiscal yr.
Whole gross sales income decreased to $2.32 billion within the second quarter from $2.78 billion within the corresponding interval of 2022The chemical firm reported adjusted earnings of $1.99 per share for the three-month interval, decrease than the $2.83 per share revenue it reported a yr earlier Unadjusted revenue, on a per-share foundation, got here in at $2.27, in comparison with $2.03 within the prior-year quarterNet money offered by working actions was $410 million within the second quarter, vs. $245 million final yr Q2 adjusted EBITDA decreased to $336 million from $469 million within the year-ago periodThe firm stated it expects the auto, aviation, and different markets to modestly enhance within the second half of the yr Eastman is in search of earnings within the vary of $6.50 per share to $7.00 per share for fiscal 2023It continues to count on to generate $1.4 billion of working money movement this yr
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