KINGSPORT, Tenn. (AP) _ Eastman Chemical Co. (EMN) on Thursday reported second-quarter net income of $292 million.
The Kingsport, Tennessee-based company said it had net income of $2 per share. Earnings, adjusted for non-recurring gains, came to $1.98 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.89 per share.
The specialty chemicals maker posted revenue of $2.42 billion in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $2.37 billion.
Eastman Chemical shares have climbed 13 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 11 percent. In the final minutes of trading on Thursday, shares hit $85.02, a climb of 21 percent in the last 12 months.