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Article: Eastman Announces Third-Quarter 2009 Financial Results.(Financial report)
- Article from:
- Investment Weekly News
- Article date:
- November 7, 2009
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Eastman Chemical Company (NYSE:EMN) announced earnings per diluted share of $1.38 for third quarter 2009 versus $1.33 for third quarter 2008. Earnings per diluted share for third quarter 2009 were reduced $0.16 per share by the reversal of a previously recognized investment tax credit for the company's Beaumont, Texas, industrial gasification project as discussed below.
"We continued to make solid progress improving our profitability during what remains a challenging economic environment," said Jim Rogers, president and CEO. "Cash generation also continues to be a priority, and we did a great job during the quarter generating well over $200 million in free cash ...