KINGSPORT, Tenn. (AP) _ Eastman Chemical Co. (EMN) on Thursday reported third-quarter net income of $323 million.
On a per-share basis, the Kingsport, Tennessee-based company said it had net income of $2.22. Earnings, adjusted for non-recurring gains, came to $2.19 per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.03 per share.
The specialty chemicals maker posted revenue of $2.47 billion in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $2.39 billion.
Eastman Chemical shares have increased 21 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 14 percent. In the final minutes of trading on Thursday, shares hit $91.04, a climb of 36 percent in the last 12 months.
