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Eastman Announces Second - Quarter 2021 Financial Results KINGSPORT , Tenn . , Aug 2 , 2021 - Eastman Chemical Company ( NYSE : EMN ) announced its second - quarter 2021 financial results . ( In millions , except per share amounts ) Sales revenue Earnings ( loss ) before interest and taxes ( " EBIT " ) Adjusted EBIT * Earnings ( loss ) per diluted share Adjusted earnings per diluted share * Net cash provided by operating activities Free cash flow * 2Q21 $ 2,653 ( 56 ) 454 ( 1.07 ) 2.46 426 319 1Q21 $ 2,409 389 400 1.99 2.13 EASTMAN 216 125 2Q20 $ 1,924 54 195 0.20 0.85 436 339 * For non - core items excluded from adjusted earnings and for adjusted provision for income taxes , calculation of free cash flow , segment adjusted EBIT margins , and net debt , and reconciliations to reported company and segment earnings and to cash provided by operating activities and total borrowings for all periods presented in this release , see Tables 3A , 3B , 4A , 4B , 5A , 5B , and 6 . " Our strong second - quarter results are directly related to the hard work and exceptional dedication of Eastman employees around the world , " said Mark Costa , Board Chair and CEO . " Second - quarter revenue and adjusted EPS were both quarterly records reflecting continued improvement in global economic growth , the benefit of our innovation - driven growth model , and our outstanding ability to execute . In our specialty businesses , we grew more than our end markets thanks to the progress we are making on our innovation and market development initiatives . Our focus on free cash flow resulted in strong performance in the first half of the year , with higher free cash flow than first half 2020. " Costa continued , " We remain focused on creating value for all of our stakeholders . We are enabling our customers to win through innovation across our markets . We are also making significant progress on our circular economy platforms , which is expanding how we grow while contributing to the solution for a serious global environmental challenge . At the same time , we continue to invest in our employees ' capabilities to grow the company . We remain confident that the disciplined execution of our strategy will enable us to build on our strong value creation in 2021 into 2022 and beyond for our investors . " Corporate Results 2Q 2021 versus 2Q 2020 and 1Q 2021 Compared to second quarter 2020 , sales revenue increased 38 percent and was higher across all reporting segments . Volume / mix increased 20 percent , led by strong growth