Eastman Chem Co Stock Price, News & Analysis

Eastman Chemical Company (NYSE:EMN) will release its financial results on January 26, 2023, at 4:30 p.m. ET. This will be followed by a teleconference and webcast on January 27, 2023, at 8:00 a.m. ET. Investors can access the advance slides and prepared remarks on their investor relations website prior to the conference. A replay will be available starting at 1:00 p.m. ET, January 27, until 11:59 p.m. ET, February 6. For further details, refer to their official site.

The Board of Directors of Eastman Chemical Company (NYSE: EMN) has declared a quarterly cash dividend of $0.79 per share, marking a 4% increase from the previous dividend of $0.76. This dividend will be payable on January 6, 2023, to stockholders of record as of December 15, 2022. This increase signifies Eastman's commitment to returning cash to shareholders and reflects confidence in its ability to generate strong earnings and cash flows, having raised the dividend for 13 consecutive years.

Eastman Chemical Company (NYSE: EMN) reported its third-quarter 2022 financial results, revealing a 13% revenue increase after excluding impacts from divested product lines and currency effects. The firm reached a significant agreement with PepsiCo for a new molecular recycling facility. Key financials showed revenue of $2,709 million, down slightly from $2,720 million in Q3 2021. Adjusted earnings per diluted share decreased to $2.05 from $2.46. The company is implementing $150 million in cost reductions and expects adjusted EPS between $1.10 and $1.40 for Q4 2022.

Eastman Chemical Company (NYSE:EMN) is set to announce its financial results for Q3 2022 on October 27, 2022, at 4:30 p.m. Eastern Time. Investors can access the results via wire distribution and on the company's website. A teleconference and webcast are scheduled for October 28, 2022, at 8:00 a.m. Eastern Time, allowing participants to engage live. Pre-registration for the teleconference is encouraged. A replay of the webcast will be available afterward, along with a downloadable MP3 format.

Eastman (NYSE: EMN) and Interzero have signed a long-term supply agreement for Eastman's upcoming molecular recycling facility in Normandy, France. Interzero will supply up to 20,000 metric tonnes of hard-to-recycle PET household packaging waste per year. The facility aims to recycle 160,000 tonnes of polyester waste annually and is expected to be operational by 2025. This partnership aims to address the plastic waste crisis by enhancing recycling capabilities through innovative chemical recycling methods.

Eastman Chemical Company (NYSE:EMN) has appointed Travis Smith as Senior Vice President of Additives & Functional Products, effective October 10, 2022. Smith, who joined Eastman in 1992, has significant leadership experience, previously serving as Division President for Films. He replaces Lucian Boldea, who is leaving for another opportunity. CEO Mark Costa praised Smith’s experience and contributions to Eastman's transformation strategy. In 2021, Eastman reported revenues of approximately $10.5 billion.

Eastman (NYSE: EMN) has entered a partnership with Ethicon, part of Johnson & Johnson MedTech, to supply Eastman Renew materials for medical device sterile-barrier packaging. This collaboration aims to reduce plastic waste in healthcare and promote sustainability. Ethicon will utilize Eastar™ Renew 6763 copolyester, which maintains the performance standards of traditional materials while enabling diversion of waste from landfills. The initiative seeks to achieve 25% waste diversion of total packaging production, with an aspirational goal of 50% by the end of 2023.

Eastman Chemical Company (NYSE:EMN) has updated its third-quarter 2022 financial outlook, projecting adjusted earnings per share (EPS) at approximately $2.00, down from $2.46 in the same quarter of 2021. The expected decline is attributed to reduced demand in consumer durables and construction, logistics challenges on the U.S. East Coast, and operational delays following an electricity outage. Rising natural gas prices and a stronger U.S. dollar are also impacting costs. Eastman is raising prices to counteract higher expenses and will announce full financial results on October 27.

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.