Eastman marks strong volume growth in 2010, but coatings and adhesives earnings are hurt by costs

摘要

Operating earnings, excluding special items, tumbled 30% in the final quarter of 2010 at Eastmans coatings, adhesives, specialty polymers and inks segment, due to higher raw material and energy costs and the cost of bringing forward a number of growth initiatives as demand recovered more quickly than expected. Segment earnings dropped to $53 million, excluding asset impairments and restructuring charges, compared to $76 million last time. This was despite a 10% increase in volume in the quarter thanks to strengthened end-use demand in packaging and transportation markets in Europe and the US.