Welcome to our dedicated page for Eastman Chemical Company news (Ticker: EMN), a resource for investors and traders seeking the latest updates and insights on Eastman Chemical Company stock.
Eastman Chemical Company, established in 1920 to supply chemicals for Eastman Kodak, has evolved into a global leader in specialty chemicals. Headquartered in Kingsport, Tennessee, Eastman operates manufacturing sites worldwide and generates most of its revenue outside the United States, particularly in Asian markets.
Eastman specializes in high-margin specialty products, having strategically divested from noncore businesses over the past few years. The company's offerings span a wide array of industries, including transportation, building and construction, consumables, and textiles.
One of Eastman's notable achievements is the development of Naia™ Renew cellulosic fiber, which recently received the Global Recycled Standard (GRS) certification. This innovation showcases Eastman's commitment to sustainability, addressing the challenge of textile waste through molecular recycling technology. Naia™ Renew is produced from 60% sustainably sourced wood pulp and 40% GRS-certified waste materials, setting a new standard for sustainable fashion.
Collaboration plays a crucial role in Eastman's success. The company partners with global leaders and associations to advance sustainable innovations. For instance, Eastman collaborated with Reformation to launch a bridal collection featuring Naia™ Renew ES, a sustainable yarn made from certified recycled content.
Eastman's expertise extends to recycling technologies. The Kingsport facility, one of the world's largest molecular recycling facilities, can recycle 110,000 metric tons annually. This technology contributes significantly to a circular economy by enabling the infinite recyclability of plastic products, thus reducing carbon emissions and conserving resources.
In addition to textile and plastic recycling, Eastman has developed Aventa™ Renew compostable materials, used in collaboration with Sealed Air to create sustainable packaging solutions. These materials are home and industrial compostable, aligning with the circular economy goals of both companies.
Eastman also demonstrates its commitment to sustainability through products like Clearway® de-icer, used by Finland's Finavia to keep runways safe while minimizing environmental impact. The de-icer's biodegradability and low aquatic toxicity ensure it meets stringent ecological standards.
With approximately 14,000 employees worldwide, Eastman continues to innovate and deliver solutions that enhance the quality of life in a material way. The company's 2023 revenue was approximately $9.2 billion, reflecting its strong market presence and dedication to sustainable growth.
For more details, visit Eastman's website.
Eastman Chemical Company (NYSE:EMN) announced that Willie McLain, Senior Vice President and Chief Financial Officer, will speak at the Credit Suisse Specialties & Basics Conference on September 13, 2022, at 9:30 a.m. ET. The presentation will be available via live webcast on investors.eastman.com. A replay will also be accessible after the event. This conference is aimed at discussing the company's strategic initiatives and financial outlook.
Eastman has received two prestigious Brandon Hall Group Gold awards for excellence in learning programs. The awards recognize their Inclusive Leadership training and Life Cycle Assessment training. Evaluated by independent industry experts, these awards highlight Eastman’s commitment to effective training that supports their business strategy. Senior VP Perry Stuckey noted that this acknowledgment reflects the company's growth and evolving training initiatives aimed at improving outcomes. The awards will be presented at the HCM Excellence Conference from Jan. 31 to Feb. 2, 2023.
The Board of Directors of Eastman Chemical Company (NYSE:EMN) has appointed Eric L. Butler as a director. Butler, formerly an Executive Vice President and Chief Administrative Officer at Union Pacific Corporation, brings extensive corporate management experience from his 32-year career. He has held various leadership roles, enhancing operational efficiency and strategic planning. His diverse skills are anticipated to bolster Eastman’s innovation-driven growth model. The company reported approximately $10.5 billion in revenue for 2021.
The Board of Directors of Eastman Chemical Company (NYSE:EMN) declared a quarterly cash dividend of
This dividend is payable on
Eastman Chemical Company (NYSE:EMN) reported strong financial results for Q2 2022, with revenue rising 15% to
Eastman Chemical Company (NYSE:EMN) is set to announce its financial results on July 28, 2022, at approximately 4:30 p.m. Eastern Time. The results will be distributed via wire and posted on their official website. A webcast and teleconference for investors is scheduled for July 29, 2022, at 8:00 a.m. Eastern Time. Advance slides will be available on their investors page prior to the call. Replay options will include a downloadable MP3 format and a telephone replay available through August 8, 2022.
The Société de Chimie Industrielle will present the 2022 International Palladium Medal to Mark J. Costa, Chair and CEO of Eastman, on September 12, 2022, at New York Hilton Midtown. This award recognizes his substantial contributions and leadership in the chemical industry, particularly in promoting innovation and sustainability. Under his guidance, Eastman has embarked on a transformation towards specialty materials and launched molecular recycling technologies to address global waste and climate challenges.
Eastman Chemical Company (NYSE:EMN) will be represented by Willie McLain, Senior Vice President and Chief Financial Officer, at the Deutsche Bank Global Materials Conference on June 9, 2022, at 9:00 a.m. ET. The event will provide insights into the company's strategic direction and market positioning. A live webcast of the presentation will be available on the investors.eastman.com. An audio replay will also be accessible following the event.
Eastman Chemical Company (NYSE:EMN) has launched an accelerated share repurchase (ASR) agreement worth $500 million in collaboration with Wells Fargo and Mizuho Markets. This move accelerates the company's goal of repurchasing over $1 billion in shares within 2022, with $750 million already completed in Q2. After the ASR, Eastman will have about $2.12 billion remaining under its share repurchase authorization. The ASR is scheduled to approximate 3.8 million shares to be repurchased by May 9, 2022, bolstering shareholder value.
At the annual meeting of Eastman Chemical Company (NYSE:EMN), shareholders reelected directors, approved executive compensation, and ratified PricewaterhouseCoopers LLP as the independent auditor for 2022. However, a proposal to lower the ownership threshold for calling special meetings from 25% to 10% was rejected. The proxy statement detailing these actions is available for investors. Eastman, founded in 1920, reported approximately $10.5 billion in revenue for 2021 and employs about 14,000 people globally, focusing on innovation and sustainability.
FAQ
What is the current stock price of Eastman Chemical Company (EMN)?
What is the market cap of Eastman Chemical Company (EMN)?
What does Eastman Chemical Company specialize in?
What is Naia™ Renew?
How does Eastman contribute to sustainability?
Where is Eastman Chemical Company headquartered?
What is the Global Recycled Standard (GRS) certification?
How does Eastman support the circular economy?
What are some recent collaborations of Eastman?
How many employees does Eastman have?
What is Eastman's revenue?
What is Clearway® de-icer?
