Eastman’s Yearly Financial Results Up from 2014, Q4 Down

February 10th, 2016 by Casey Flores

Eastman Chemical Company recently announced its fourth-quarter (Q4) and yearly financial results for 2015. While sales were up for the year, they were down in Q4.

“We delivered our sixth consecutive year of solid earnings growth and record cash from operations in 2015,” says Mark Costa, chairman and CEO. “We benefitted from volume growth in specialty businesses, mix upgrade in advanced materials from growth of high value, innovative products, accretion from high quality specialty acquisitions, and continued disciplined cost management.”

“Advanced materials” includes the company’s film division.

Sales revenue for Q4 2015 was $2.2 billion versus $2.3 billion for Q4 2014. This was primarily due to lower selling prices more than offsetting sales revenue from the Commonwealth Laminating & Coating (CLC) acquisition, according to the company.

In Q4, sales revenue increased in the advanced materials division primarily due to increased sales volume and sales of CLC’s performance film. They were partially offset by lower selling prices primarily for co-polyesters due to lower raw material and energy costs, according to the company.

For all of 2015, numbers in the advanced materials division were up as well, but it was partially offset by an unfavorable shift in foreign currency exchange rates as well, according to the company.

Sales (in millions)20142015Percent Change
Fourth Quarter$2,349$2,225-5.3%
Fiscal Year$9,527$9,648+1.3%
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