Eastman Chem second-quarter net more than doubles

SAN FRANCISCO (MarketWatch) -- Eastman Chemical Co. said late Thursday its second-quarter net income rose to $148 million, or $2.02 a share, from $65 million, or 89 cents a share, a year ago. Excluding one-time items, the company would have reported $2.05 a share in the latest quarter. Revenue increased to $1.72 billion from $1.25 billion in the year-ago period. Analysts surveyed by FactSet Research estimated earnings of $1.65 a share on revenue of $1.64 billion. The company forecast earnings of $1.65 to $1.75 a share for the third quarter, compared with analysts' estimates of $1.34 a share.

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