EMN Q2 2016 Earnings Report — Eastman Chemical Company Revenue & Financial Results | Market Cap Arena

Eastman Chemical CompanyEMN

Q2 2016 Earnings

Reported August 3, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2016	Q1 2016	Q2 2015	QoQ Change	YoY Change
Revenue	$2.3B	$2.2B	—	2.7%	—
Op. Income	$376M	$399M	—	-5.8%	—
Gross Margin	26.3%	28.4%	—	-2.0pp	—
Net Margin	11.1%	11.2%	—	-0.1pp	—
EPS (Diluted)	$1.71	$1.69	—	1.2%	—
Free Cash Flow	$370M	-$59M	—	727.1%	—

Revenue Flow

Item	Amount
REVENUE	$2.3B
Cost of Revenue	$1.7B
GROSS PROFIT	$605M
R&D Expenses	$55M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$174M
Other Expenses	$0
Operating Expenses	$229M
Cost & Expenses	$1.9B
OPERATING INCOME	$376M
Interest Income	$8M
Interest Expense	$71M
Other Income/Expenses	-$52M
INCOME BEFORE TAX	$324M
Income Tax Expense	$67M
Net Income from Continuing Ops	$257M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$255M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$255M
D&A	$144M
EBIT	$395M
EBITDA	$539M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$2.3B
Cost of Revenue	$1.7B
GROSS PROFIT	$605M
R&D Expenses	$55M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$174M
Other Expenses	$0
Operating Expenses	$229M
Cost & Expenses	$1.9B
OPERATING INCOME	$376M
Interest Income	$8M
Interest Expense	$71M
Other Income/Expenses	-$52M
INCOME BEFORE TAX	$324M
Income Tax Expense	$67M
Net Income from Continuing Ops	$257M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$255M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$255M
D&A	$144M
EBIT	$395M
EBITDA	$539M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$257M
Depreciation & Amortization	$144M
Stock-Based Compensation	$0
Deferred Income Tax	$38M
Other Non-Cash Items	$6M
Change in Working Capital	$49M
OPERATING CASH FLOW	$494M
Capital Expenditure	-$124M
Acquisitions (Net)	-$1M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$39M
NET CASH FROM INVESTING	-$86M
Net Debt Issuance	-$280M
Common Stock Repurchased	-$25M
Common Dividends Paid	-$68M
Other Financing Activities	$4M
NET CASH FROM FINANCING	-$369M
FREE CASH FLOW	$370M
Net Change in Cash	$38M

Balance Sheet

Item	Amount
Cash & Equivalents	$240M
Short-Term Investments	$0
Net Receivables	$1.2B
Inventory	$1.4B
Other Current Assets	$294M
TOTAL CURRENT ASSETS	$2.9B
PP&E (Net)	$5.2B
Goodwill	$4.5B
Intangible Assets	$2.6B
Long-Term Investments	-$1.0B
Tax Assets	$1.0B
Other Non-Current Assets	$385M
TOTAL NON-CURRENT ASSETS	$12.7B
TOTAL ASSETS	$15.6B
Account Payables	$610M
Short-Term Debt	$800M
Deferred Revenue	$268M
Other Current Liabilities	$511M
TOTAL CURRENT LIABILITIES	$2.2B
Long-Term Debt	$6.1B
Deferred Revenue NC	$1.3B
Deferred Tax Liabilities	$1.0B
Other Non-Current Liabilities	$2.9B
TOTAL NON-CURRENT LIABILITIES	$8.9B
TOTAL LIABILITIES	$11.1B
Common Stock	$2M
Additional Paid-In Capital	$1.9B
Retained Earnings	$5.5B
Treasury Stock	-$2.7B
Accum. Other Comp. Income	-$311M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.4B
Minority Interest	$78M
TOTAL EQUITY	$4.5B
TOTAL LIABILITIES & EQUITY	$15.6B
Total Debt	$6.8B
Net Debt	$6.6B