8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION 

WASHINGTON, DC 20549 

FORM 8-K 

CURRENT REPORT

Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported):

October 8, 2008

EASTMAN CHEMICAL COMPANY

(Exact Name of Registrant as Specified in Its Charter)

Delaware	1-12626	62-1539359
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

200 South Wilcox Drive, Kingsport, TN	37660
(Address of Principal Executive Offices)	(Zip Code)

(423) 229-2000

(Registrant’s Telephone Number, Including Area Code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

EASTMAN CHEMICAL COMPANY - EMN    October 8, 2008  

Section 2 – Financial Information

Item 2.02  Results of Operations and Financial Condition

On October 8, 2008, the Registrant announced that third-quarter 2008 earnings per share excluding costs related to strategic actions are expected to be above the high end of the current range of analysts' estimates on First Call, which is $1.30 per share.  The full text of the release is furnished as Exhibit 99.01 to this Form 8-K, and is incorporated herein by reference. This information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

EASTMAN CHEMICAL COMPANY - EMN      October 8, 2008  

Item 9.01 Financial Statements and Exhibits:

(d) Exhibits

The following exhibit is furnished pursuant to Item 9.01:

99.01 Public release by the registrant on October 8, 2008 of third quarter 2008 earnings expectations.

EASTMAN CHEMICAL COMPANY - EMN    October 8, 2008  

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

Eastman Chemical Company 

By:  /s/Scott V. King____________

    Scott V. King

    Vice President, Controller and Chief Accounting Officer

    Date: October 9, 2008

EX-99.01

EX-99.01 Item 2.02 Exhibit Press Release

EASTMAN CHEMICAL COMPANY - EMN

Contacts:
Media:	Tracy Broadwater
	423-224-0498 / tkbroadwater@eastman.com
Investors:	Greg Riddle
	212-835-1620 / griddle@eastman.com

Eastman Announces Higher Third-Quarter 2008 Earnings Expectation

KINGSPORT, Tenn., October 8, 2008 – Eastman Chemical Company (NYSE:EMN) today announced that third-quarter 2008 earnings per share excluding costs related to strategic actions are expected to be above the high end of the current range of analysts’ estimates on First Call, which is $1.30 per share. The improved earnings per share were driven by higher operating earnings primarily due to a recent decline in raw material and energy costs, higher sales revenue, and ongoing cost reductions which more than offset lower sales volume due to softening demand. 

Eastman will announce third-quarter 2008 sales and earnings on Oct. 23, 2008, at approximately 5:00 p.m. Eastern Time. The company will host a conference call with industry analysts on Oct. 24 at 8:00 a.m. Eastern Time. To listen to the live webcast of the conference call, go to www.investors.eastman.com, Presentations. To listen via telephone, the dial-in number is 913-312-1278, passcode number 3704916. A web replay will be available at www.investors.eastman.com, Presentations.  A telephone replay will be available continuously from 11:00 a.m. Eastern Time, Oct. 24, to 12:00 a.m. Eastern Time, Nov. 2, 2008, at 888-203-1112, passcode number 3704916.

Eastman manufactures and markets chemicals, fibers and plastics worldwide. It provides key differentiated coatings, adhesives and specialty plastics products; is a major supplier of cellulose acetate fibers; and produces PET polymers for packaging. As a Responsible Care® company, Eastman is committed to achieving the highest standards of health, safety, environmental and security performance. Founded in 1920 and headquartered in Kingsport, Tenn., Eastman is a FORTUNE 500 company with 2007 sales of $6.8 billion and approximately 10,500 employees. For more information about Eastman and its products, visit www.eastman.com.

Forward-Looking Statements: The statements in this news release concerning expected third-quarter 2008 sales revenue, raw material and energy costs, sales volume, operating earnings and earnings per share excluding certain costs are forward-looking. Such statements are based upon preliminary information and management assumptions and expectations and are subject to risks and uncertainties inherent in projecting results. Important factors that could cause actual results to differ materially from the expectations expressed in the forward-looking statements, in addition to those identified with such forward-looking statements, are detailed in the company's reports filed with the Securities and Exchange Commission, including the Form 10-Q filed for the quarter ended June 30, 2008, the Form 8-K to be filed for third quarter 2008 results of operations, and the Form 10-Q to be filed for the quarter ended Sept. 30, 2008.