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Eastman's free cash flow will exceed $1.1 billion

 Last Update: 2021-08-28
 Source: Internet
 Author: User

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Recently, Eastman released its second-quarter financial report, saying that with the strong performance in the first half of the year and the good momentum in the second half of the year, Eastman expects adjusted earnings per share in 2021 to be between US$8.
80 and US$9.
20.
In time, free cash flow will exceed 1.
1 billion U.
S.
dollars, which is expected to exceed 1 billion U.
S.
dollars for the fifth consecutive year
.

The financial report shows that in the second quarter, Eastman's sales revenue increased by 38% year-on-year, thanks to the strong growth of specialty materials, additives and functional materials business, sales/product mix increased by 20%
.

In addition, the price management advantage of the chemical intermediates business promoted a 16% increase in sales prices

Continued strong demand in major end markets has driven sales and favorable product portfolio growth, especially the sales growth of specialty materials, additives and functional materials business, which has resulted in a significant year-on-year increase in adjusted profit before interest and taxes
.

As the increase in the price of chemical intermediate products exceeds the increase in the cost of raw materials, the spread has further widened

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