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Eastman Chemical Company - EMN STOCK NEWS

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.

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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.

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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.

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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.

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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.

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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.

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The Board of Directors of Eastman Chemical Company (NYSE:EMN) has declared a quarterly cash dividend of $0.76 per share, payable on July 8, 2022. Shareholders of record as of June 15, 2022 will receive this dividend. Founded in 1920, Eastman operates globally, focusing on innovative products in various sectors such as transportation and construction, with a reported revenue of approximately $10.5 billion in 2021. The company emphasizes sustainability and safety while engaging deeply with customers.

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Eastman Chemical Company (NYSE:EMN) reported a strong first-quarter 2022 with a 13% year-over-year revenue increase to $2,714 million, despite challenges from a steam line incident at its Kingsport facility. Notably, the company achieved a 17% rise in selling prices to offset inflationary pressures. Adjusted EPS guidance remains at $9.50-$10.00. The company expects 8-12% adjusted EPS growth for Q2, driven by its specialties. However, cash flow from operations fell significantly to $17 million, down from $216 million in the previous year.

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Eastman Chemical Company (NYSE:EMN) will release its financial results on April 28, 2022, at approximately 4:30 p.m. ET. The results will be available through their website and via SEC Form 8-K filing. A webcast and teleconference will follow on April 29, 2022, at 8:00 a.m. ET. Advance slides will be posted on the investor section of their website. A replay of the webcast will also be available post-event. For inquiries, investors can contact Greg Riddle at 212-835-1620.

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Eastman Chemical Company (NYSE:EMN) has completed the sale of its adhesives resins business to Synthomer plc for $1 billion in cash. This deal encompasses hydrocarbon resins, pure monomer resins, and oleochemical and fatty-acid based resins previously part of Eastman’s Additives & Functional Products segment. J.P. Morgan Securities acted as financial advisor and Jones Day served as legal advisor for this transaction. Eastman, a global specialty materials company, reported approximately $10.5 billion in revenue for 2021 and employs around 14,000 people worldwide.

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Eastman Chemical Company (NYSE:EMN) announces that Willie McLain, Senior Vice President and CFO, will present at the JP Morgan Industrials Conference on March 17, 2022, at 10:30 a.m. ET. The presentation will be available via live webcast on the company’s investor relations website. Additionally, an audio replay will be accessible after the event on the same platform. This event provides an opportunity for stakeholders to gain insights into Eastman's business strategies and performance outlook.

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FAQ

What is the current stock price of Eastman Chemical Company (EMN)?

The current stock price of Eastman Chemical Company (EMN) is $91.76 as of December 20, 2024.

What is the market cap of Eastman Chemical Company (EMN)?

The market cap of Eastman Chemical Company (EMN) is approximately 10.7B.

What does Eastman Chemical Company specialize in?

Eastman specializes in high-margin specialty products across industries such as transportation, building and construction, consumables, and textiles.

What is Naia™ Renew?

Naia™ Renew is a sustainable cellulosic fiber made from 60% sustainably sourced wood pulp and 40% GRS-certified waste materials.

How does Eastman contribute to sustainability?

Eastman contributes to sustainability through innovative recycling technologies, producing sustainable materials like Naia™ Renew and Aventa™ Renew, and collaborating with industry leaders on sustainable projects.

Where is Eastman Chemical Company headquartered?

Eastman Chemical Company is headquartered in Kingsport, Tennessee, USA.

What is the Global Recycled Standard (GRS) certification?

The GRS certification validates recycled content, chain of custody, social and environmental practices, and chemical restrictions of products like Naia™ Renew.

How does Eastman support the circular economy?

Eastman supports the circular economy by enabling the infinite recyclability of plastic products through molecular recycling technology and producing compostable materials like Aventa™ Renew.

What are some recent collaborations of Eastman?

Recent collaborations include working with Reformation to launch a bridal collection featuring Naia™ Renew ES and partnering with Sealed Air to create compostable packaging solutions.

How many employees does Eastman have?

Eastman employs approximately 14,000 people worldwide.

What is Eastman's revenue?

Eastman reported a revenue of approximately $9.2 billion in 2023.

What is Clearway® de-icer?

Clearway® de-icer is a biodegradable product used by Finavia to keep runways safe during winter while minimizing environmental impact.

Eastman Chemical Company

NYSE:EMN

EMN Rankings

EMN Stock Data

10.65B
115.04M
0.67%
89.49%
1.78%
Specialty Chemicals
Plastic Materials, Synth Resins & Nonvulcan Elastomers
Link
United States of America
KINGSPORT