Eastman Chem Co Stock Price, News & Analysis

Stanley Black & Decker (SWK) and Eastman (EMN) have announced a partnership to enhance sustainability in the power tools sector. The BLACK+DECKER brand will launch the reviva line in early 2022, featuring power tools made with Eastman's Tritan Renew copolyester, which contains 50% certified recycled content. This initiative supports both companies' ESG strategies aimed at reducing greenhouse gas emissions and promoting circularity in materials. The reviva line will also focus on eco-friendly packaging and battery recycling programs.

Eastman (NYSE:EMN) ranks No. 21 on Fortune's 2021 Change the World list for its advanced recycling technologies that address the plastic waste crisis. The company aims to recycle over 250 million pounds of plastic waste annually by 2025 and over 500 million pounds by 2030. These innovations contribute to its commitment to become carbon neutral by 2050, with a target of achieving one-third of that goal by 2030. Eastman is also constructing the world's largest polyester molecular recycling facility in Kingsport, Tennessee, expected to be complete by late 2022.

Eastman Chemical Company (NYSE:EMN) is set to release its financial results on October 28, 2021, at approximately 4:30 p.m. Eastern Time. Interested investors can access the results via a live webcast and teleconference scheduled for October 29, 2021, at 8:00 a.m. Eastern Time. Key details including advance slides will be shared prior to the call. A replay will be available post-event on their investor relations page. For inquiries, Greg Riddle may be contacted at 212-835-1620.

Eastman Chemical Company (NYSE:EMN) will be represented by Senior Vice President and CFO Willie McLain at the Credit Suisse Virtual Basic Materials Conference on September 14, 2021, at 8:45 a.m. ET. The presentation will be available via live webcast on the company’s investor relations website, with an audio replay accessible afterward. This conference serves as a platform for Eastman to engage with investors and discuss business insights in the basic materials sector.

The board of directors of Eastman Chemical Company (NYSE:EMN) has declared a quarterly cash dividend of $0.69 per share on its common stock. This dividend will be payable on October 1, 2021, to stockholders of record as of September 15, 2021. Founded in 1920, Eastman is a global specialty materials company with 2020 revenues of approximately $8.5 billion.

Eastman Chemical Company (EMN) reported its second-quarter 2021 results, showing a 38% increase in sales revenue to $2.653 billion, compared to $1.924 billion in Q2 2020. Adjusted earnings per diluted share rose to $2.46. However, EBIT showed a loss of $56 million due to rising costs. The company expects full-year adjusted EPS between $8.80 and $9.20 and free cash flow exceeding $1.1 billion. Eastman also announced the sale of its tire additives business for $800 million.

Eastman has partnered with Procter & Gamble to enhance recycling solutions and reduce reliance on virgin plastic packaging. This collaboration aims to implement Eastman Renew materials in select P&G products, promoting a circular economy. Both companies will work on initiatives to improve recycling infrastructure in the U.S., focusing on hard-to-recycle plastics. Eastman plans to construct a major plastic-to-plastic recycling facility in Kingsport, Tennessee, set to complete in 2022, utilizing over 200 million pounds of landfill-bound plastic annually.

Eastman (NYSE: EMN) has partnered with USAMP and PADNOS for a feasibility study on recycling automotive plastic waste. The initiative targets automotive shredder residue (ASR), which comprises 10%–20% of end-of-life vehicles and typically ends up in landfills. By using ASR as feedstock, Eastman aims to produce new materials through its molecular recycling technology. This project, expected to yield energy savings and reduce greenhouse gas emissions, aligns with USAMP's sustainability goals, addressing the 5–7 million tons of ASR generated annually in the U.S.

The Eastman Q2 2021 financial results teleconference has been rescheduled to start at 9:00 a.m. ET on August 3, 2021, instead of the previously announced 8:00 a.m. ET. The financial results will be released on August 2, 2021, at approximately 4:30 p.m. ET. Interested parties can access the teleconference via a live webcast or by dialing in. The webcast replay will also be available after the event. For more details, visit www.eastman.com.