Eastman Chemical Issues Update On Kingsport Incident; Reaffirms Full-Year Adj. EPS Guidance

(RTTNews) - Eastman Chemical Company (EMN) said, on January 31, 2022, the company had an operational incident at its Kingsport site as a result of a steam line failure. All manufacturing operations at the site were safely shut down following the incident. The primary impacted area is specialty copolyesters. The company is bringing forward a normal four-week spring maintenance shutdown from late March to now occur during the current repair process.

Eastman expects first-quarter earnings per share to be between $2.05 and $2.25. For full-year 2022, the company reaffirmed its expectation for adjusted EPS to be between $9.50 and $10.