Eastman Chem Co Stock Price, News & Analysis

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.