Eastman Chem Co - EMN STOCK NEWS

Eastman Chemical Company (NYSE:EMN) hosted its 2024 Circular Economy Deep Dive event, highlighting its innovation-driven growth strategy and circular economy initiatives. The company projects EBITDA of over $2.1 billion and cash flow of $1.6 billion in a normalized market, with an additional EBITDA of over $500 million by 2029 through circular initiatives. This includes >$350 million from methanolysis projects and $150-200 million from cellulosic biopolymer platform. Capital expenditures are expected to be $800 million in 2025 and between $800 million-$1 billion in 2026-2027.

BLACK+DECKER successfully launched its reviva™ line of power tools in early 2021 through a partnership with Eastman, despite challenges posed by the global pandemic. The tools' housing uses Eastman's Tritan Renew™ copolyester, featuring 50% recycled content. The collaboration overcame technical challenges through virtual meetings and extensive testing to meet stringent requirements for energized equipment. Ten reviva products were launched in 2022, including a 12V MAX drill, jigsaw, and sander. The partnership demonstrated successful virtual collaboration between teams, focusing on material performance, sustainability, and brand requirements.

Eastman Chemical Company (NYSE:EMN) has announced a Circular Economy Deep Dive event scheduled for November 21, 2024, in Kingsport, Tennessee. The event, running from 10:20 AM to 12:00 PM ET, will feature presentations from key executives including CEO Mark Costa, focusing on the company's circular economy growth platform. The agenda includes updates on Polyester Platform, Cellulosic Biopolymer Platform, and a financial overview, followed by a Q&A session. A live public webcast will be available on the company's investor website, with presentation materials and replay options accessible afterward.

Eastman and UPM Specialty Papers have partnered to develop an innovative food packaging solution. The collaboration combines Eastman's compostable and biobased Solus™ additives with BioPBS™, which can be extrusion coated onto UPM's barrier base papers. The solution provides heat sealability and enhanced adhesion at low coat weights, specifically designed for recyclability in food applications requiring oxygen and grease barriers, such as confectionery packaging. The materials have received industrial and home compostable certifications or are pending certification.

Eastman has established a new cardboard recycling partnership with Goodwill Industries of Tenneva and Domtar in Kingsport, Tennessee. The collaboration processes up to 120 tons of cardboard monthly, which Goodwill bales and transports to Domtar for recycling. The partnership, which began in April, has led to the creation of two new jobs at Goodwill and the purchase of a fourth baler. The initiative reduces carbon emissions through local processing, as Goodwill's facility is only five miles from Eastman's site, while supporting both environmental sustainability and employment opportunities in the community.

Eastman Chemical Company (NYSE:EMN) reported strong Q3 2024 results with sales revenue increasing 9% to $2,464 million, primarily driven by 8% higher sales volume/mix across all segments. Earnings per diluted share rose to $1.53, while adjusted EPS reached $2.26. The company maintained its full-year 2024 EPS guidance at $7.50-$7.70. Notable achievements include improved EBIT margin by 360 basis points and return of $195 million to shareholders. The company announced plans to construct a second methanolysis facility in Longview, Texas, while noting some operational challenges at the Kingsport facility.

Eastman Chemical Company has announced the schedule for its third-quarter 2024 financial results release and related events. The company will release its financial results on Thursday, October 31, 2024, at approximately 4:15 p.m. Eastern Time through wire distribution, its website, and an SEC Form 8-K filing.

A live webcast and teleconference will be held on Friday, November 1, 2024, at 8:00 a.m. Eastern Time. Advance slides and prepared remarks will be posted on Thursday evening at investors.eastman.com. Interested parties can join the webcast or dial in to the teleconference using the provided toll-free number and passcode. A pre-registration link is available for faster connection to the teleconference.

A replay of the webcast and teleconference will be available at investors.eastman.com, with the telephone replay accessible until November 11, 2024.

McDonald's has launched a new set of six Collector's Meal cups made with Eastman Tritan™, featuring popular characters like Barbie, Hello Kitty, Minions, and McDonald's own characters. These cups have sparked excitement among collectors and nostalgia seekers, with some reselling for up to $100 on various platforms. The cups' key feature is their infinite reusability, thanks to Tritan's durability, which allows them to withstand repeated washing and accidental drops while maintaining their appearance.

This collaboration between McDonald's and Eastman showcases the practical application of Tritan in creating long-lasting, collectible items. The high resale value and durability of these cups demonstrate the potential for sustainable, reusable products in the fast-food industry.

Subhashini Vashisth, group leader of polymer synthesis and applications at Eastman, has been recognized with the 2023 Technology Rising Star Award at the Women of Color STEM Awards and the YWCA Northeast Tennessee and Southwest Virginia Tribute to Women Award for STEM. With a doctorate in chemical engineering, Vashisth has contributed to process improvement and new polymer growth projects at Eastman over nine years. She actively promotes diversity and inclusion in STEM fields, serving in various leadership roles including former global chair of Catalyst ERG, an Eastman resource group supporting women. Vashisth emphasizes the importance of education, community service, and empowering team members in leadership roles.