EMN Q1 2017 Earnings Report — Eastman Chemical Company Revenue & Financial Results | Market Cap Arena

Eastman Chemical CompanyEMN

Q1 2017 Earnings

Reported May 5, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2017	Q4 2016	Q1 2016	QoQ Change	YoY Change
Revenue	$2.3B	—	$2.2B	—	2.5%
Op. Income	$392M	—	$399M	—	-1.8%
Gross Margin	27.1%	—	28.4%	—	-1.3pp
Net Margin	12.1%	—	11.2%	—	0.9pp
EPS (Diluted)	$1.89	—	$1.69	—	11.8%
Free Cash Flow	-$81M	—	-$59M	—	-37.3%

Revenue Flow

Item	Amount
REVENUE	$2.3B
Cost of Revenue	$1.7B
GROSS PROFIT	$620M
R&D Expenses	$54M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$174M
Other Expenses	$0
Operating Expenses	$228M
Cost & Expenses	$1.9B
OPERATING INCOME	$392M
Interest Income	$1M
Interest Expense	$61M
Other Income/Expenses	-$51M
INCOME BEFORE TAX	$341M
Income Tax Expense	$62M
Net Income from Continuing Ops	$279M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$278M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$278M
D&A	$145M
EBIT	$407M
EBITDA	$552M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$2.3B
Cost of Revenue	$1.7B
GROSS PROFIT	$620M
R&D Expenses	$54M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$174M
Other Expenses	$0
Operating Expenses	$228M
Cost & Expenses	$1.9B
OPERATING INCOME	$392M
Interest Income	$1M
Interest Expense	$61M
Other Income/Expenses	-$51M
INCOME BEFORE TAX	$341M
Income Tax Expense	$62M
Net Income from Continuing Ops	$279M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$278M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$278M
D&A	$145M
EBIT	$407M
EBITDA	$552M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$279M
Depreciation & Amortization	$145M
Stock-Based Compensation	$0
Deferred Income Tax	$31M
Other Non-Cash Items	-$120M
Change in Working Capital	-$283M
OPERATING CASH FLOW	$52M
Capital Expenditure	-$133M
Acquisitions (Net)	-$4M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$1M
NET CASH FROM INVESTING	-$136M
Net Debt Issuance	$250M
Common Stock Repurchased	-$75M
Common Dividends Paid	-$75M
Other Financing Activities	$2M
NET CASH FROM FINANCING	$102M
FREE CASH FLOW	-$81M
Net Change in Cash	$16M

Balance Sheet

Item	Amount
Cash & Equivalents	$197M
Short-Term Investments	$0
Net Receivables	$1.4B
Inventory	$1.5B
Other Current Assets	$68M
TOTAL CURRENT ASSETS	$3.2B
PP&E (Net)	$5.3B
Goodwill	$4.5B
Intangible Assets	$2.4B
Long-Term Investments	-$1.3B
Tax Assets	$1.3B
Other Non-Current Assets	$351M
TOTAL NON-CURRENT ASSETS	$12.6B
TOTAL ASSETS	$15.8B
Account Payables	$668M
Short-Term Debt	$305M
Deferred Revenue	$274M
Other Current Liabilities	$466M
TOTAL CURRENT LIABILITIES	$1.6B
Long-Term Debt	$6.6B
Deferred Revenue NC	$1.0B
Deferred Tax Liabilities	$1.3B
Other Non-Current Liabilities	$1.5B
TOTAL NON-CURRENT LIABILITIES	$9.4B
TOTAL LIABILITIES	$11.0B
Common Stock	$2M
Additional Paid-In Capital	$1.9B
Retained Earnings	$5.9B
Treasury Stock	-$2.9B
Accum. Other Comp. Income	-$306M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.7B
Minority Interest	$76M
TOTAL EQUITY	$4.7B
TOTAL LIABILITIES & EQUITY	$15.8B
Total Debt	$6.9B
Net Debt	$6.7B