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Issue 7, 2020 - Eastman expects first-quarter earnings per share to exceed year-ago levels

 Last Update: 2022-11-11
 Source: Internet
 Author: User

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Eastman expects first-quarter
earnings per share to exceed the same period last year
.

The company said it had a strong start in January and resilience in February and early March, and expects earnings per share in the first quarter of 2020 to be higher than the same period last year and exceed previous expectations
.

Eastman will take other steps in 2020 to further improve free cash flow, including reducing capital expenditures to $325 million~$375 million from its original forecast of $450 million
~ $475 million.
And, assuming raw material prices are little changed from current rates and that the COVID-19 pandemic negatively impacts demand, working capital for the full year 2020 is expected to generate cash flow of more than $250 million, exceeding previous expectations
.
In addition, in the current environment, the company will actively manage costs
.

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