Eastman Chemical shares sink, Q1 rev, Q2 EPS forecast miss Street

After quarterly report late Thursday, shares in Eastman Chemical Co EMN.N down ~5.7% on Friday, leading declines in S&P 500 materials sector .SPLRCM, which, down 1%, was the biggest decliner among the benchmark's 11 major sectors

EMN Q1 adj EPS of $1.91 was ahead of mean est of $1.89, but rev of $2.29 bln missed consensus expectation for $2.33 bln

Also EMN forecast Q2 adj EPS of $1.70-$1.90 vs Street expectations for $2.18 and said would curtail expenses amid market volatility due to uncertainty around U.S. President Donald Trump's tariff plans

EMN stock sharply underperforming LyondellBasell LYB.N, another chemical co, down 0.4%, after it missed Street quarterly profit view with lower volumes in segment supplying materials to automotive, construction, electronics sector

On Thursday, peer Dow DOW.N said it expects extended pressure on earnings due to trade policy uncertainty. Dow, ~flat on Friday having risen 2.6% on Thursday

EMN last traded at $76.34 vs median PT of $105, down from $112 a month ago, according to LSEG which shows 21 analysts covering the co with 5 'strong buy,' 8 'buy' and 8 'hold' recommendations

YTD shares in EMN down 11.5% vs ~2% drop for SPLRCM