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Eastman Chemical appears set for fast growth, Barron's
June 16, 2013 / 10:06 PM / 4 years ago

Eastman Chemical appears set for fast growth, Barron's

June 16 (Reuters) - Eastman Chemical Co’s shares will likely resume their impressive growth path, following a recent bout of instability, as the specialty chemical maker’s profits benefit from company cost savings, tax advantages and important acquisitions, Barron’s said.

The company generated about $8.1 billion in 2012 revenue and $5.38 in earnings per share, Barron’s said, and has forecast that earnings will jump about 17 percent this year to more than $6.30 per share.

Senior company officials have predicted profit will grow at a double-digit annual pace in the next few years and that Eastman will earn $8 a share in 2015, Barron’s said.

“Some investors and analysts believe that may be too conservative because recovery in two important end markets - transportation and construction - has just begun,” the weekly newspaper said.

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