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Eastman Announces Third - Quarter 2021 Financial Results KINGSPORT , Tenn . , Oct , 28 , 2021 – Eastman Chemical Company ( NYSE : EMN ) announced its third - 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 * 3Q21 $ 2,720 370 445 2.57 2.46 547 430 EASTMAN 2Q21 $ 2,653 ( 56 ) 454 ( 1.07 ) 2.46 426 319 3Q20 $ 2,122 243 310 1.18 1.57 442 360 * 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 third - quarter sales revenue was a quarterly record , reflecting the impact of our innovation and market development initiatives and continued solid underlying demand across most end markets , ” said Mark Costa , Board Chair and CEO . " In addition , our earnings remained resilient despite logistics constraints and the acceleration of higher variable costs through the quarter . The combination of continued price increases and our growth , cost savings , and execution initiatives is enabling us to offset these rising input costs . We also remain focused on our cash flow , and although inflation is impacting working capital , we expect full - year free cash flow to approach $ 1.1 billion . " Corporate Results 3Q 2021 versus 3Q 2020 and 2Q 2021 Compared to third quarter 2020 , sales revenue increased 28 percent due to 19 percent higher selling prices and 9 percent higher volume / mix . The increased selling prices , led by Chemical Intermediates and Additives & Functional Products , were due to higher raw material , energy , and distribution prices , continued strong end - market demand , and tight market conditions . Higher sales volume / mix was due to continued strong recovery in demand across key end markets and our innovative products enabling above - market growth , especially in building & construction , transportation , and consumer durables markets . Increasing logistics constraints limited our ability to serve strong demand .