Challenging Fourth Quarter For Eastman Chemical Company

Kingsport’s Eastman Chemical Company reported both fourth quarter and full year earnings for 2022 were down from the same period a year ago. It was a challenging fourth quarter for the specialty chemical company, that saw a nearly 40 million dollar steam line failure that didn’t help matters. The company says the fourth quarter was down in part to lower demand in key end markets. Eastman says there remains an exciting opportunity for the company to create considerable value as a leader in providing a solution for the global plastic waste crisis and is projecting a five to fifteen percent growth in adjusted earnings for 2023.