EMN Q1 2018 Earnings Report — Eastman Chemical Company Revenue & Financial Results | Market Cap Arena

Eastman Chemical CompanyEMN

Q1 2018 Earnings

Reported May 7, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2018	Q4 2017	Q1 2017	QoQ Change	YoY Change
Revenue	$2.6B	—	$2.3B	—	13.7%
Op. Income	$421M	—	$392M	—	7.4%
Gross Margin	25.6%	—	27.1%	—	-1.4pp
Net Margin	11.1%	—	12.1%	—	-1.0pp
EPS (Diluted)	$2.00	—	$1.89	—	5.8%
Free Cash Flow	-$163M	—	-$81M	—	-101.2%

Revenue Flow

Item	Amount
REVENUE	$2.6B
Cost of Revenue	$1.9B
GROSS PROFIT	$667M
R&D Expenses	$56M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$190M
Other Expenses	$0
Operating Expenses	$246M
Cost & Expenses	$2.2B
OPERATING INCOME	$421M
Interest Income	$1M
Interest Expense	$60M
Other Income/Expenses	-$71M
INCOME BEFORE TAX	$350M
Income Tax Expense	$60M
Net Income from Continuing Ops	$290M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$290M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$290M
D&A	$152M
EBIT	$409M
EBITDA	$561M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$2.6B
Cost of Revenue	$1.9B
GROSS PROFIT	$667M
R&D Expenses	$56M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$190M
Other Expenses	$0
Operating Expenses	$246M
Cost & Expenses	$2.2B
OPERATING INCOME	$421M
Interest Income	$1M
Interest Expense	$60M
Other Income/Expenses	-$71M
INCOME BEFORE TAX	$350M
Income Tax Expense	$60M
Net Income from Continuing Ops	$290M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$290M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$290M
D&A	$152M
EBIT	$409M
EBITDA	$561M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$290M
Depreciation & Amortization	$152M
Stock-Based Compensation	$0
Deferred Income Tax	$11M
Other Non-Cash Items	-$163M
Change in Working Capital	-$325M
OPERATING CASH FLOW	-$35M
Capital Expenditure	-$128M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$50M
NET CASH FROM INVESTING	-$78M
Net Debt Issuance	$299M
Common Stock Repurchased	-$100M
Common Dividends Paid	-$80M
Other Financing Activities	-$3M
NET CASH FROM FINANCING	$116M
FREE CASH FLOW	-$163M
Net Change in Cash	$3M

Balance Sheet

Item	Amount
Cash & Equivalents	$194M
Short-Term Investments	$0
Net Receivables	$1.7B
Inventory	$1.5B
Other Current Assets	$64M
TOTAL CURRENT ASSETS	$3.5B
PP&E (Net)	$5.6B
Goodwill	$4.5B
Intangible Assets	$2.3B
Long-Term Investments	-$914M
Tax Assets	$914M
Other Non-Current Assets	$362M
TOTAL NON-CURRENT ASSETS	$12.9B
TOTAL ASSETS	$16.4B
Account Payables	$838M
Short-Term Debt	$589M
Deferred Revenue	$187M
Other Current Liabilities	$415M
TOTAL CURRENT LIABILITIES	$2.0B
Long-Term Debt	$6.3B
Deferred Revenue NC	$951M
Deferred Tax Liabilities	$914M
Other Non-Current Liabilities	$1.5B
TOTAL NON-CURRENT LIABILITIES	$8.7B
TOTAL LIABILITIES	$10.7B
Common Stock	$2M
Additional Paid-In Capital	$2.0B
Retained Earnings	$7.0B
Treasury Stock	-$3.3B
Accum. Other Comp. Income	-$212M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$5.5B
Minority Interest	$75M
TOTAL EQUITY	$5.6B
TOTAL LIABILITIES & EQUITY	$16.4B
Total Debt	$6.9B
Net Debt	$6.7B