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Issue 8, 2020 - Eastman delivered solid first quarter

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

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Eastman announced its financials and expects earnings per share in the first quarter of this year to be higher than the same period last year, and free cash flow (cash from operating activities minus net capital expenditures) will be close to breakeven, well above the average
of the same period of previous years.

Eastman will further improve free cash flow in 2020, including reducing capital expenditures to $325 million~$375 million from its original forecast of $450 million~$475 million
.
Assuming that raw material prices are not much changed from the current level and that the pandemic negatively affects demand, working capital is expected to generate more than $250 million in cash flow for the full year 2020, exceeding previous expectations
.

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