POSTED: Friday, April 27, 2012 - 2:30pm
UPDATED: Friday, April 27, 2012 - 4:25pm
LONGVIEW — Eastman Chemical Co. on Thursday posted record first quarter revenues with company officials expressing optimism for the remainder of 2012.
The Kingsport, Tenn.-based company, with operations in Longview, reported revenues of $1.821 billion, up about 4 percent from the $1.758 billion in revenues reported in the first quarter of 2011. The revenue figure also edged the previous top first quarter revenue figure of $1.803 billion in 2006.
Revenue has increased for four quarters in a row.
“We delivered solid first quarter results despite persistent global economic uncertainty, and we remain well positioned for full year earnings growth,” chairman and CEO Jim Rogers said in a statement. “In addition, we are on track to complete the Solutia acquisition by mid-2012, which we expect will significantly enhance our earnings growth in the future.”