EMN FY 2016 Earnings Report — Eastman Chemical Company Revenue & Financial Results | Market Cap Arena

Eastman Chemical CompanyEMN

FY 2016 Earnings

Reported February 27, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2016	Prior Q	FY 2015	QoQ Change	YoY Change
Revenue	$8.9B	—	$9.6B	—	-6.4%
Op. Income	$1.5B	—	$1.7B	—	-10.5%
Gross Margin	27.4%	—	28.3%	—	-0.9pp
Net Margin	9.7%	—	8.9%	—	0.8pp
EPS (Diluted)	$5.84	—	$5.66	—	3.2%
Free Cash Flow	$759M	—	$972M	—	-21.9%

Revenue Flow

Item	Amount
REVENUE	$8.9B
Cost of Revenue	$6.5B
GROSS PROFIT	$2.5B
R&D Expenses	$217M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$694M
Other Expenses	$0
Operating Expenses	$913M
Cost & Expenses	$7.4B
OPERATING INCOME	$1.5B
Interest Income	$3M
Interest Expense	$258M
Other Income/Expenses	-$493M
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$199M
Net Income from Continuing Ops	$859M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$866M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$854M
D&A	$580M
EBIT	$1.3B
EBITDA	$1.9B
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$8.9B
Cost of Revenue	$6.5B
GROSS PROFIT	$2.5B
R&D Expenses	$217M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$694M
Other Expenses	$0
Operating Expenses	$913M
Cost & Expenses	$7.4B
OPERATING INCOME	$1.5B
Interest Income	$3M
Interest Expense	$258M
Other Income/Expenses	-$493M
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$199M
Net Income from Continuing Ops	$859M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$866M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$854M
D&A	$580M
EBIT	$1.3B
EBITDA	$1.9B
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$859M
Depreciation & Amortization	$580M
Stock-Based Compensation	$0
Deferred Income Tax	$177M
Other Non-Cash Items	-$138M
Change in Working Capital	-$93M
OPERATING CASH FLOW	$1.4B
Capital Expenditure	-$626M
Acquisitions (Net)	-$26M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$3M
NET CASH FROM INVESTING	-$655M
Net Debt Issuance	-$428M
Common Stock Repurchased	-$145M
Common Dividends Paid	-$272M
Other Financing Activities	$7M
NET CASH FROM FINANCING	-$838M
FREE CASH FLOW	$759M
Net Change in Cash	-$112M

Balance Sheet

Item	Amount
Cash & Equivalents	$181M
Short-Term Investments	$0
Net Receivables	$1.2B
Inventory	$1.4B
Other Current Assets	$70M
TOTAL CURRENT ASSETS	$2.9B
PP&E (Net)	$5.3B
Goodwill	$4.5B
Intangible Assets	$2.5B
Long-Term Investments	-$1.2B
Tax Assets	$1.2B
Other Non-Current Assets	$385M
TOTAL NON-CURRENT ASSETS	$12.6B
TOTAL ASSETS	$15.5B
Account Payables	$704M
Short-Term Debt	$283M
Deferred Revenue	$412M
Other Current Liabilities	$502M
TOTAL CURRENT LIABILITIES	$1.8B
Long-Term Debt	$6.3B
Deferred Revenue NC	$1.0B
Deferred Tax Liabilities	$1.2B
Other Non-Current Liabilities	$1.5B
TOTAL NON-CURRENT LIABILITIES	$9.1B
TOTAL LIABILITIES	$10.8B
Common Stock	$2M
Additional Paid-In Capital	$1.9B
Retained Earnings	$5.7B
Treasury Stock	-$2.8B
Accum. Other Comp. Income	-$281M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.5B
Minority Interest	$76M
TOTAL EQUITY	$4.6B
TOTAL LIABILITIES & EQUITY	$15.5B
Total Debt	$6.6B
Net Debt	$6.4B