Welcome to our dedicated page for Eastman Chem Co news (Ticker: EMN), a resource for investors and traders seeking the latest updates and insights on Eastman Chem Co stock.
Eastman Chemical Company (NYSE: EMN) is a global specialty materials manufacturer headquartered in Kingsport, Tennessee. Founded in 1920, Eastman produces a broad range of products used in everyday items and serves end markets such as transportation, building and construction, and consumables. This news page aggregates company announcements and market updates related to EMN.
Investors and followers of Eastman can use this feed to review earnings releases, dividend declarations, and other material events disclosed through press releases and conference presentations. Recent communications have highlighted themes such as cash generation, cost structure actions, and the performance of specialty businesses in a challenging macroeconomic environment.
Typical news items for Eastman include quarterly and annual financial results, updates on its circular economy and methanolysis initiatives, and commentary on demand trends in key end markets. The company also issues news about Board and executive changes, including director appointments and leadership transitions in technology and sustainability roles. In addition, Eastman frequently announces participation in investor conferences, with live and replay webcasts hosted through its investor relations site.
This page focuses on news that Eastman releases through wire services and other public channels, providing a centralized view of developments that can affect how the market evaluates EMN. Readers interested in the specialty materials and plastics material and resin manufacturing industry can monitor this stream to follow Eastman’s public communications over time and to compare its disclosures with broader sector conditions.
Eastman (NYSE:EMN) plans to invest up to $1 billion in a molecular recycling facility in France, aimed at recycling 160,000 metric tonnes of hard-to-recycle plastic waste annually, which would otherwise be incinerated. This facility will employ Eastman's polyester renewal technology, significantly reducing carbon emissions and creating high-quality materials. The initiative aligns with the EU's sustainability goals, expected to create 350 direct jobs and 1,500 indirect jobs. The project emphasizes Eastman's commitment to a circular economy and is set to be operational by 2025.
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Eastman Chemical Company (NYSE:EMN) plans to release its financial results on
Eastman Chemical Company (NYSE:EMN) held its 2021 Innovation Day, outlining plans for 8%-12% adjusted EPS growth from 2021-2024 and over $6 billion in investments through 2024. The company anticipates more than $450 million in adjusted EBITDA from molecular recycling technologies by 2026. Key financial targets include a 23% corporate adjusted EBITDA margin and over $1.6 billion in annual operating cash flow. Eastman aims to achieve carbon neutrality by 2050, enhancing sustainability through innovative solutions while increasing shareholder returns with $2 billion in share repurchases planned by 2022.
Eastman Chemical Company (NYSE:EMN) announced a $2.5 billion increase in its share repurchase authorization, demonstrating confidence in its growth strategy. The company has entered an accelerated share repurchase agreement to buy back $500 million of its common stock. This brings the total target for repurchases in 2021 to $1 billion. The ASR is expected to complete by Q1 2022, with repurchases based on share price performance.
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The Board of Directors of Eastman Chemical Company (NYSE: EMN) has declared a quarterly cash dividend of $0.76 per share, marking a 10% increase from the previous dividend of $0.69. This dividend will be payable on January 7, 2022, to stockholders of record as of December 15, 2021. This decision reflects the Board's confidence in the company's capacity for earnings growth and strong cash flow generation, aligning with Eastman's ongoing commitment to return cash to stockholders.
Eastman Chemical Company (NYSE:EMN) will host an Innovation Day on December 7, 2021, for industry analysts to discuss the company's innovation progress and sustainability initiatives. The event will take place both virtually and in person in New York City, running from 8:30 a.m. to 12:00 p.m. EST. Key executives, including CEO Mark Costa and other top officials, will present insights on how the company is leveraging a circular economy to drive growth. A live webcast and presentation slides will be available online.
Eastman (NYSE: EMN) has been recognized at the Women’s Forum of New York’s 2021 Breakfast of Corporate Champions for achieving 36% female representation on its board of directors. This notable achievement positions Eastman as a leader in promoting gender diversity in corporate leadership. CEO Mark Costa stated their commitment to gender parity across all professional levels by 2030. The initiative aims to drive change from the top, focusing on advancing women's leadership in corporate boards.
On November 1, 2021, One Rock Capital Partners completed the acquisition of Eastman Chemical Company's tire additives business, now named Flexsys. This transaction marks One Rock's sixth corporate carve-out in 2021 and emphasizes their commitment to operational improvements. The Flexsys management team will collaborate with One Rock to enhance growth and establish the company as a strong independent entity. Legal counsel was provided by Latham & Watkins LLP, while RBC Capital Markets acted as financial advisor.
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