EMN FY 2014 Earnings Report — Eastman Chemical Company Revenue & Financial Results | Market Cap Arena

Eastman Chemical CompanyEMN

FY 2014 Earnings

Reported February 27, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$9.5B	—	$9.4B	—	1.6%
Op. Income	$1.3B	—	$2.0B	—	-35.1%
Gross Margin	23.3%	—	29.6%	—	-6.3pp
Net Margin	7.9%	—	12.4%	—	-4.6pp
EPS (Diluted)	$4.97	—	$7.44	—	-33.2%
Free Cash Flow	$840M	—	$814M	—	3.2%

Revenue Flow

Item	Amount
REVENUE	$9.5B
Cost of Revenue	$7.3B
GROSS PROFIT	$2.2B
R&D Expenses	$227M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$709M
Other Expenses	$0
Operating Expenses	$936M
Cost & Expenses	$8.2B
OPERATING INCOME	$1.3B
Interest Income	$16M
Interest Expense	$203M
Other Income/Expenses	-$287M
INCOME BEFORE TAX	$990M
Income Tax Expense	$235M
Net Income from Continuing Ops	$755M
Net Income from Discontinued Ops	$2M
Other Adjustments	$0
NET INCOME	$751M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$751M
D&A	$450M
EBIT	$1.2B
EBITDA	$1.6B
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$9.5B
Cost of Revenue	$7.3B
GROSS PROFIT	$2.2B
R&D Expenses	$227M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$709M
Other Expenses	$0
Operating Expenses	$936M
Cost & Expenses	$8.2B
OPERATING INCOME	$1.3B
Interest Income	$16M
Interest Expense	$203M
Other Income/Expenses	-$287M
INCOME BEFORE TAX	$990M
Income Tax Expense	$235M
Net Income from Continuing Ops	$755M
Net Income from Discontinued Ops	$2M
Other Adjustments	$0
NET INCOME	$751M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$751M
D&A	$450M
EBIT	$1.2B
EBITDA	$1.6B
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$757M
Depreciation & Amortization	$450M
Stock-Based Compensation	$0
Deferred Income Tax	$99M
Other Non-Cash Items	$202M
Change in Working Capital	-$75M
OPERATING CASH FLOW	$1.4B
Capital Expenditure	-$593M
Acquisitions (Net)	-$3.5B
Purchases of Investments	-$16M
Sales/Maturities of Investments	$13M
Other Investing Activities	$11M
NET CASH FROM INVESTING	-$4.1B
Net Debt Issuance	$3.3B
Common Stock Repurchased	-$410M
Common Dividends Paid	-$210M
Other Financing Activities	$9M
NET CASH FROM FINANCING	$2.6B
FREE CASH FLOW	$840M
Net Change in Cash	-$23M

Balance Sheet

Item	Amount
Cash & Equivalents	$214M
Short-Term Investments	$0
Net Receivables	$1.2B
Inventory	$1.5B
Other Current Assets	$250M
TOTAL CURRENT ASSETS	$3.2B
PP&E (Net)	$5.1B
Goodwill	$4.5B
Intangible Assets	$2.9B
Long-Term Investments	-$946M
Tax Assets	$946M
Other Non-Current Assets	$421M
TOTAL NON-CURRENT ASSETS	$12.9B
TOTAL ASSETS	$16.1B
Account Payables	$827M
Short-Term Debt	$301M
Deferred Revenue	$191M
Other Current Liabilities	$703M
TOTAL CURRENT LIABILITIES	$2.0B
Long-Term Debt	$7.2B
Deferred Revenue NC	$1.5B
Deferred Tax Liabilities	$946M
Other Non-Current Liabilities	$2.3B
TOTAL NON-CURRENT LIABILITIES	$10.5B
TOTAL LIABILITIES	$12.5B
Common Stock	$2M
Additional Paid-In Capital	$1.8B
Retained Earnings	$4.5B
Treasury Stock	-$2.6B
Accum. Other Comp. Income	-$277M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.5B
Minority Interest	$80M
TOTAL EQUITY	$3.6B
TOTAL LIABILITIES & EQUITY	$16.1B
Total Debt	$7.5B
Net Debt	$7.3B