Welcome to our dedicated page for Eastman Chemical news (Ticker: EMN), a resource for investors and traders seeking the latest updates and insights on Eastman Chemical stock.
Eastman Chemical Company reports developments as a global specialty materials company producing chemicals and materials used in everyday products. News commonly covers quarterly results, price and volume trends, raw-material and distribution costs, foreign currency effects, and performance in businesses such as Advanced Materials, Chemical Intermediates, acetate tow and methanolysis operations.
Company updates also include quarterly cash dividends on common stock, annual meeting voting results, board and governance matters, and executive participation in industrial conferences. Eastman frames its commercial activity around technology platforms, customer application development, and end markets including transportation, building and construction, and consumables.
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.
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.
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.
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.
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.
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.
The Board of Directors of Eastman Chemical Company (NYSE:EMN) has declared a quarterly cash dividend of $0.76 per share. This dividend is scheduled for payment on April 1, 2022, to stockholders of record as of March 15, 2022.
Founded in 1920, Eastman is a global specialty materials company focused on enhancing quality of life through innovative products in various end-markets, including transportation and construction.
Eastman Chemical Company (NYSE:EMN) reported an operational incident at its Kingsport, Tennessee facility due to a steam line failure on January 31, 2022. All manufacturing operations were safely shut down, with recovery expected in 4-6 weeks, primarily affecting specialty copolyesters. In response, the company has advanced a planned maintenance shutdown. Despite potential impacts on sales volume, first-quarter earnings per share are predicted to be between $2.05 and $2.25, with a reaffirmed full-year adjusted EPS guidance of $9.50 to $10.
Eastman has completed significant expansions to its tertiary amine capacity at its facilities in Ghent, Belgium, and Pace, Florida. The Ghent expansion increases overall capacity, while the Pace enhancement makes it the largest tertiary amine unit globally. This move responds to rising demand for tertiary amines, driven by changes in consumer habits post-pandemic. The expansions aim to enhance reliability and meet growing customer needs across various sectors, including personal care and pharmaceuticals.
Eastman Chemical Company (NYSE:EMN) reported strong financial results for Q4 and FY2021, with sales revenue reaching $2.694 billion for Q4, up 23% from $2.186 billion in Q4 2020. Full-year revenue increased to $10.476 billion, representing a 24% growth year-over-year. Adjusted EPS for FY2021 rose to $8.85 from $6.15 in the previous year. The company anticipates an adjusted EPS growth of 8-12% for 2022, driven by innovative products and leadership in the circular economy.