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.
The Board of Directors of Eastman Chemical Company (NYSE: EMN) has declared a quarterly cash dividend of $0.69 per share, marking a five percent increase from the previous $0.66 per share. This dividend is scheduled for payment on Jan. 8, 2021, to stockholders of record as of Dec. 15, 2020. Senior VP Willie McLain expressed confidence in the company’s ability to generate earnings growth and maintain strong cash flow, showcasing a commitment to returning value to stockholders for the 11th consecutive year.
Eastman Chemical Company (NYSE:EMN) will have its CFO, Willie McLain, speak at the Citi Basic Materials Virtual Conference on December 1, 2020, at 10:00 a.m. ET. The presentation will be available via live webcast on the investor relations section of Eastman's website. A replay of the audio will also be accessible for those unable to attend live. This event provides an opportunity for investors to gain insights into Eastman's financial outlook and strategic developments in the basic materials sector.
Eastman Chemical Company (NYSE:EMN) reported its third-quarter 2020 financial results, with sales revenue at $2,122 million, a 9% decline from $2,325 million in Q3 2019. Adjusted EBIT fell to $310 million, compared to $369 million a year earlier. Earnings per diluted share dropped to $1.18 from $1.93. Despite a recovery in sales volumes, lower prices and the impact of COVID-19 affected performance. The company generated a record $360 million in free cash flow, focusing on cash generation, with a forecast of over $1 billion in free cash flow for the year.
Eastman (NYSE: EMN) has been recognized by The Wall Street Journal as one of the 100 most sustainably managed companies worldwide, securing the 90th position out of over 5,500 analyzed firms. This accolade highlights Eastman's strong performance in sustainability metrics, with its highest ranking at No. 30 in environmental practices. The assessment considers various factors, including governance, employee welfare, and social impact. Eastman aims to address global challenges like climate change through innovative solutions and is set to release its 2020 sustainability report in November, presenting new ambitious goals.
Eastman Chemical Company (NYSE:EMN) announced the release of its financial results on Thursday, Oct. 29, 2020, at approximately 4:30 p.m. Eastern Time. Details will be available via wire distribution and on their official website. A webcast and teleconference are scheduled for Friday, Oct. 30, 2020, at 8:00 a.m. Eastern Time, where advance slides and prepared remarks will be posted. Investors can also access replay options on their website after the event, ensuring comprehensive coverage of the financial performance for stakeholders.
The board of directors of Eastman Chemical Company (NYSE: EMN) has declared a quarterly cash dividend of $0.66 per share on its common stock. This dividend is set to be payable on July 10, 2020, to stockholders of record as of June 15, 2020. Founded in 1920, Eastman is a global specialty materials company with 2019 revenues of approximately $9.3 billion, serving customers in more than 100 countries.
At the annual meeting of Eastman Chemical Company (NYSE:EMN) on May 7, 2020, stockholders took key actions including the reelection of directors for one-year terms and approving executive compensation through a 'say-on-pay' vote. Additionally, stockholders ratified PricewaterhouseCoopers LLP as the independent accounting firm for 2020, while an advisory proposal allowing stockholders to act by written consent was rejected. More details are available in the proxy statement, with final vote totals to be reported in a Form 8-K filing.
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