US resin maker Eastman (Kingsport, Tennessee; www.eastman.com) said sales revenue last quarter rose 4.9% from the year-earlier period to USD 2.8 bn, and adjusted EBIT increased 2.9% to USD 469 mn.

The company reaffirmed its guidance for 2022 of adjusted earnings per share (EPS) at USD 9.50-USD 10.00, noting that the midpoint of the range represents a 10% increase over 2021. Adjusted EPS last quarter rose 15%, Eastman reported.

Chairman and CEO Mark Costa said, “Our record second-quarter revenue and adjusted EPS reflect strong performance across the company despite a challenging and dynamic global economic environment.”

Costa said the company expects to “continue raising prices, particularly in our speciality product lines, in response to persistently high inflation”.

He noted that headwinds for the second half include slowing global economic growth, higher costs for energy and some raw materials, continued supply chain challenges for the global car market, and a stronger US dollar.

The company said sales at its advanced materials unit – home to Tritan copolyester and Saflex PVB interlayers – rose 10% due to 13% higher selling prices, a move partially offset by unfavourable currency markets. “Higher selling prices across the segment were led by speciality plastics,” the supplier explained.

Sales at the other plastics-related division, which includes additives and functional products, jumped 27% on the year, partially due to 20% higher selling prices.

Chemical intermediate sales grew 17%, and fibre turnover was up 9%, the company said.