S&P 500 (NYSE:SPY) component Eastman Chemical Co. (NYSE:EMN) reported its results for the third quarter. Eastman Chemical is a global company which manufactures and sells chemicals, plastics, and fibers products to customers in seven countries.

Investing Insights: Here’s Why Chipotle’s Stock Keeps Winning.

Eastman Chemical Earnings Cheat Sheet for the Third Quarter

Results: Net income for the chemicals company fell to $165 million ($1.16 per share) vs. $170 million ($1.16 per share) a year earlier. This is a decline of 2.9% from the year earlier quarter.

Revenue: Rose 20.2% to $1.81 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: EMN reported adjusted net income of $1.19 per share. By that measure, the company beat the mean estimate of $1.11 per share. It beat the average revenue estimate of $1.74 billion.

Quoting Management: “Third-quarter 2011 operating earnings reflect solid performance across the company,” said Jim Rogers, Chairman and CEO. “Going forward, the strength of our core businesses and balance sheet gives us confidence our earnings will remain resilient despite the economic uncertainty.”

Key Stats:

The company has now topped analyst estimates for the last three quarters. It beat the mark by 8 cents in the second quarter and by 27 cents in the first quarter.

Looking Forward: The outlook for the company’s results in the upcoming quarter is unfavorable. The average estimate for the fourth quarter is 89 cents per share, down from 93 cents ninety days ago. At $4.64 per share, the average estimate for the fiscal year has fallen from $4.67 ninety days ago.

Competitors to Watch: The Dow Chemical Company (NYSE:DOW), PolyOne Corporation (NYSE:POL), FMC Corporation (NYSE:FMC), Ashland Inc. (NYSE:ASH), A. Schulman, Inc. (NASDAQ:SHLM), Westlake Chemical Corp. (NYSE:WLK), Huntsman Corporation (NYSE:HUN), Kraton Performance Polymers Inc (NYSE:KRA), E.I. du Pont de Nemours & Co. (NYSE:DD), and Albemarle Corporation (NYSE:ALB).

Investing Insights: Here’s Why Chipotle’s Stock Keeps Winning.

(Source: Xignite Financials)

Get Your FREE Special Report: 4 Things You Must Know About the US Economy Now!