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, a specialty materials company, is pioneering a circular economy solution for automotive plastic waste. Up to 20% of end-of-life vehicle materials, known as automotive shredder residue (ASR), typically end up in landfills or are incinerated. Eastman is collaborating across the value chain to develop a closed-loop project that recycles this waste into sustainable feedstock for new materials.
Using molecular recycling technology, Eastman aims to replace fossil-based feedstock with recycled complex plastics, creating high-performance polymers for new automotive applications. This innovative approach could significantly reduce the environmental impact of the automotive industry while maintaining material quality.
Eastman Chemical Company (NYSE:EMN) has announced a quarterly cash dividend of $0.81 per share on its common stock. The dividend is payable on Oct. 7, 2024, to stockholders of record as of Sept. 16, 2024. Eastman, founded in 1920, is a global specialty materials company with a focus on innovation and sustainability. The company employs approximately 14,000 people worldwide, serves customers in over 100 countries, and reported revenue of about $9.2 billion in 2023. Eastman's growth model leverages technology platforms, customer engagement, and application development to maintain leading positions in attractive markets such as transportation, building and construction, and consumables.
Eastman, a century-old materials company, is taking significant steps to address the plastic waste crisis and combat climate change. The company has committed to recycling over 50 million pounds of plastic waste by 2030, aiming to create an endless loop of reusable products. This initiative is expected to reduce carbon footprint by 20%-30% compared to using raw fossil feedstock.
Eastman's sustainability efforts, dubbed 'A Better Circle', focus on giving new life to plastic waste and partnering with other companies to create more sustainable solutions. The company emphasizes that sustainability is no longer optional but a necessity in today's world. Eastman is leveraging its decades of expertise to meet customer demands while prioritizing environmental responsibility.
Eastman (EMN) has unveiled a groundbreaking solution to the global plastic waste crisis. The company's molecular recycling technology can break down plastic waste into its basic components, enabling the creation of new, high-quality plastic products. This innovative process can be repeated indefinitely without downcycling, using less energy and resources compared to traditional methods using raw fossil feedstock.
Eastman's technology addresses the long-standing challenge of recycling all types of plastic, offering a scalable solution to reduce plastic waste in oceans, landfills, and the environment. The company is calling for collaboration to tackle this pressing issue and invites stakeholders to join their efforts in creating a more sustainable future for plastic use and recycling.
Eastman Chemical Company (NYSE: EMN) has announced the pricing of a $500 million public offering of 5.000% notes due 2029. The offering is expected to close on August 1, 2024. Eastman plans to use part of the proceeds to fund a cash tender offer for up to $250 million of its outstanding 3.800% Notes due 2025, with the remainder allocated for general corporate purposes.
The notes are being offered under an automatic shelf registration statement, with several major financial institutions serving as joint book-running managers. This offering is subject to SEC regulations and is only available through a prospectus supplement and accompanying prospectus.
Eastman, founded in 1920, is a global specialty materials company with a focus on innovation and sustainability. The company reported revenue of approximately $9.2 billion in 2023 and employs around 14,000 people worldwide.
Eastman Chemical Company (NYSE:EMN) has launched a cash tender offer to purchase up to $250 million of its outstanding 3.800% Notes due 2025. The offer expires on August 26, 2024, with an early tender deadline of August 9, 2024. Holders tendering by the early deadline are eligible for a $30 per $1,000 principal amount premium. The total consideration will be determined based on a fixed spread plus the yield of a reference U.S. Treasury Security. The offer is subject to various conditions, including the completion of a new debt offering. Barclays Capital, J.P. Morgan Securities, and Morgan Stanley are acting as dealer managers for the tender offer.
Eastman and the University of Tennessee have broken records with their "Good Sports Always Give Back" recycling program. In 2023, they recycled an impressive 44,950 pounds of game day waste at Neyland Stadium, surpassing their previous world record of 38,452 pounds set in 2022. The initiative included recycling plastic, aluminum, paper, cardboard, wooden pallets, composting, and food donations.
The program expanded to include a competition with the University of Michigan, resulting in a combined total of 85,211 pounds of waste diverted from landfills. Over 200,000 people participated in this environmental effort, demonstrating the power of unity and sustainability. Eastman's molecular recycling technologies play a important role in renewing plastic waste collected from UT's campus and stadium.
Eastman Chemical Company (NYSE:EMN) reported strong second-quarter 2024 financial results, with sales revenue increasing 2% to $2,363 million. The company saw a 300-basis-point sequential margin improvement driven by volume/mix growth and operating leverage. Earnings per diluted share were $1.94, while adjusted earnings per diluted share reached $2.15. Eastman demonstrated commercial excellence by focusing on specialty product offerings and managing price-cost across the company. The company also continued to ramp up sales from its Kingsport methanolysis facility, broadening the range of hard-to-recycle feedstocks. For the full-year 2024, Eastman expects EPS to be between $7.40 and $7.85, with cash from operations projected at approximately $1.4 billion.
Eastman, a leader in molecular recycling technologies, is driving innovation towards a circular economy. In a GreenBiz Studio Interview during Circularity 24, Chris Layton, Director of Circular Policy Strategy at Eastman, discussed the company's approach to new innovations and considerations for advancing the circular economy. The interview, conducted by Nethra Rajendran from GreenBiz Group, highlights Eastman's role in the recent surge of recycling technology innovations. This event underscores Eastman's commitment to sustainability and its position at the forefront of developing recycling solutions to address global environmental challenges.
Eastman and Tri-Cities Airport have announced a partnership to collect plastic waste at the airport. Strategically placed recycling receptacles will gather plastic bottles and food containers, which will be processed at Eastman's new mixed plastics processing facility in Kingsport, Tennessee. This facility is part of the largest material-to-material recycling plant in the world.
The initiative aims to combat the plastic waste crisis and promote sustainability in the region. Brad Lich, Eastman's executive vice president, emphasized the importance of local partnerships in fostering sustainability. Gene Cossey, CEO of Tri-Cities Airport Authority, expressed excitement about contributing to innovative recycling solutions developed in the area.
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