Reported 1 day ago
Eastman Chemical Company (NYSE:EMN) has reached a new low share price of $56.78 following a disappointing earnings report that revealed a 39% drop in net income and a 3% decrease in sales. The company's stock fell 19.03% to close at $58.79 after extending a five-day losing streak, with ongoing macroeconomic uncertainties expected to negatively influence future performance. CEO Mark Costa noted challenges in key markets like construction and automotive manufacturing and projected Q3 earnings per share around $1.25.
Source: YAHOO