RTTNews | Oct 29, 2020 05:02PM EDT

17:02 Thursday, October 29, 2020 (RTTNews.com) - Eastman Chemical (EMN) revealed a profit for third quarter that dropped from the same period last year.

The company's profit came in at $161 million, or $1.18 per share. This compares with $266 million, or $1.93 per share, in last year's third quarter.

Excluding items, Eastman Chemical reported adjusted earnings of $214 million or $1.57 per share for the period.

Analysts had expected the company to earn $1.37 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 9.0% to $2.12 billion from $2.33 billion last year.

Eastman Chemical earnings at a glance:

-Earnings (Q3): $214 Mln. vs. $267 Mln. last year.-EPS (Q3): $1.57 vs. $1.94 last year.-Analysts Estimate: $1.37-Revenue (Q3): $2.12 Bln vs. $2.33 Bln last year.

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