EMN Q3 2016 Earnings Report — Eastman Chemical Company Revenue & Financial Results | Market Cap Arena

Eastman Chemical CompanyEMN

Q3 2016 Earnings

Reported November 4, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2016	Q2 2016	Q3 2015	QoQ Change	YoY Change
Revenue	$2.3B	$2.3B	—	-1.1%	—
Op. Income	$417M	$376M	—	10.9%	—
Gross Margin	28.7%	26.3%	—	2.4pp	—
Net Margin	10.2%	11.1%	—	-0.9pp	—
EPS (Diluted)	$1.56	$1.71	—	-8.8%	—
Free Cash Flow	$309M	$370M	—	-16.5%	—

Revenue Flow

Item	Amount
REVENUE	$2.3B
Cost of Revenue	$1.6B
GROSS PROFIT	$652M
R&D Expenses	$54M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$181M
Other Expenses	$0
Operating Expenses	$235M
Cost & Expenses	$1.9B
OPERATING INCOME	$417M
Interest Income	$7M
Interest Expense	$71M
Other Income/Expenses	-$128M
INCOME BEFORE TAX	$289M
Income Tax Expense	$56M
Net Income from Continuing Ops	$233M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$232M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$232M
D&A	$145M
EBIT	$361M
EBITDA	$507M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$2.3B
Cost of Revenue	$1.6B
GROSS PROFIT	$652M
R&D Expenses	$54M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$181M
Other Expenses	$0
Operating Expenses	$235M
Cost & Expenses	$1.9B
OPERATING INCOME	$417M
Interest Income	$7M
Interest Expense	$71M
Other Income/Expenses	-$128M
INCOME BEFORE TAX	$289M
Income Tax Expense	$56M
Net Income from Continuing Ops	$233M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$232M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$232M
D&A	$145M
EBIT	$361M
EBITDA	$507M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$233M
Depreciation & Amortization	$145M
Stock-Based Compensation	$0
Deferred Income Tax	$42M
Other Non-Cash Items	-$5M
Change in Working Capital	$35M
OPERATING CASH FLOW	$450M
Capital Expenditure	-$141M
Acquisitions (Net)	$37M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$43M
NET CASH FROM INVESTING	-$147M
Net Debt Issuance	-$197M
Common Stock Repurchased	-$75M
Common Dividends Paid	-$68M
Other Financing Activities	$4M
NET CASH FROM FINANCING	-$336M
FREE CASH FLOW	$309M
Net Change in Cash	-$33M

Balance Sheet

Item	Amount
Cash & Equivalents	$207M
Short-Term Investments	$0
Net Receivables	$1.2B
Inventory	$1.5B
Other Current Assets	$59M
TOTAL CURRENT ASSETS	$2.9B
PP&E (Net)	$5.2B
Goodwill	$4.5B
Intangible Assets	$2.5B
Long-Term Investments	-$1.0B
Tax Assets	$1.0B
Other Non-Current Assets	$375M
TOTAL NON-CURRENT ASSETS	$12.6B
TOTAL ASSETS	$15.5B
Account Payables	$629M
Short-Term Debt	$675M
Deferred Revenue	$412M
Other Current Liabilities	$490M
TOTAL CURRENT LIABILITIES	$2.2B
Long-Term Debt	$5.9B
Deferred Revenue NC	$1.2B
Deferred Tax Liabilities	$1.0B
Other Non-Current Liabilities	$1.8B
TOTAL NON-CURRENT LIABILITIES	$8.8B
TOTAL LIABILITIES	$11.0B
Common Stock	$2M
Additional Paid-In Capital	$1.9B
Retained Earnings	$5.7B
Treasury Stock	-$2.8B
Accum. Other Comp. Income	-$348M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.4B
Minority Interest	$75M
TOTAL EQUITY	$4.5B
TOTAL LIABILITIES & EQUITY	$15.5B
Total Debt	$6.6B
Net Debt	$6.4B