Declared Dividend • May 20
First quarter dividend of US$0.84 announced Shareholders will receive a dividend of US$0.84. Ex-date: 15th June 2026 Payment date: 8th July 2026 Dividend yield will be 5.1%, which is lower than the industry average of 6.1%. Sustainability & Growth Dividend is not adequately covered by earnings (96% earnings payout ratio). However, it is covered by cash flows (77% cash payout ratio). The dividend has increased by an average of 7.7% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 6.5% to bring the payout ratio under control. EPS is expected to grow by 59% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Duyuru • May 09
Eastman Chemical Company announces Quarterly dividend, payable on July 08, 2026 Eastman Chemical Company announced Quarterly dividend of USD 0.8400 per share payable on July 08, 2026, ex-date on June 15, 2026 and record date on June 15, 2026. Duyuru • Apr 30
Eastman Launches Saflex Evoca Xir.Sr to Elevate Ev Sunroof Performance Eastman is launching Saflex Evoca XIR.SR, a next-generation infrared (IR)-reflective interlayer developed specifically for sunroofs in electric vehicles (EVs). Building on the 30-year XIR legacy, Eastman created the Evoca XIR.SR interlayer to reduce solar heat gain and offer a neutral, angle-stable reflected color. Engineered to keep vehicle cabins comfortable, the new interlayer helps reduce HVAC load and can improve battery and range efficiency. It is a high-performance solar control alternative to metal-coated glass. Evoca XIR.SR is now available globally. As EV interiors bring seats closer to sunroofs, occupants experience higher solar and thermal loads. Evoca XIR.SR reflects IR rays to lower total solar energy transmittance (TTS), helping to keep the cabin cooler and improve passenger comfort. The interlayer preserves optical clarity while delivering an angle-stable, neutral-gray reflection that eliminates the blue hue common in metal-coated glass. It offers design freedom for visible light transmission, haze and TTS to help designers balance daylighting, appearance and solar control. Key features and benefits of Saflex Evoca XIR.SR for panoramic sunroofs: Comfort — Lower solar heat gain to help keep cabins cooler and improve occupant comfort; Design flexibility — Supports flexible glass configurations while maintaining a consistent, neutral reflected color across glass types and viewing angles; Efficiency — Lowers TTS through the IR-reflective technology, helping ease HVAC load and supporting better range performance; actual range impact varies with driving profile, climate and usage; Manufacturability and supply chain advantages — Offers an IR-reflective alternative where metal-coated glass is not feasible, giving automotive glass suppliers a high-performance option that meets OEM requirements. Evoca XIR.SR is the latest addition to the Saflex Evoca portfolio. Developed by Eastman, Saflex Evoca brings next-generation design, efficiency and comfort to EVs. The interlayer can be configured alongside acoustic solar interlayers and a range of neutral grey colors to deliver enhanced performance. Eastman will be exhibiting at the Beijing International Automotive Exhibition, April 24 – May 3, 2026. Photos accompanying this announcement are available. Duyuru • Apr 09
Eastman Chemical Company to Report Q1, 2026 Results on Apr 30, 2026 Eastman Chemical Company announced that they will report Q1, 2026 results at 4:15 PM, US Eastern Standard Time on Apr 30, 2026 Duyuru • Mar 25
Eastman Chemical Company, Annual General Meeting, May 07, 2026 Eastman Chemical Company, Annual General Meeting, May 07, 2026. Duyuru • Feb 13
Eastman Chemical Company Declares Quarterly Dividend, Payable on April 8, 2026 Eastman Chemical Company Board of Directors has declared a quarterly cash dividend of $0.84 per share on the company's common stock. The dividend is payable April 8, 2026, to stockholders of record as of March 13, 2026. Duyuru • Jan 12
Eastman Chemical Company to Report Q4, 2025 Results on Jan 29, 2026 Eastman Chemical Company announced that they will report Q4, 2025 results at 4:15 PM, US Eastern Standard Time on Jan 29, 2026 Duyuru • Dec 05
Eastman Chemical Company Declares Increased Quarterly Dividend, Payable on January 8, 2026 The Board of Directors of Eastman Chemical Company has declared an increase in the quarterly cash dividend from $0.83 to $0.84 per share on its common stock. The dividend is payable January 8, 2026, to stockholders of record as of December 15, 2025. Duyuru • Oct 10
Eastman Chemical Company Announces Executive Changes Eastman Chemical Company announced that Chris M. Killian, Senior Vice President - Chief Technology and Sustainability Officer, has provided notice that he plans to retire at the end of the year due to family and health considerations, effective as of December 31, 2025. In light of Mr. Killian’s retirement and to ensure a smooth transition, Stephen G. Crawford, former Executive Vice President of Methanolysis Operations and Worldwide Engineering and Construction Transformation, has agreed to return to Eastman Chemical Company to provide leadership as Executive Vice President - Technology Projects, effective November 3, 2025. On January 1, 2026, Mr. Crawford will transition to the role of Executive Vice President - Chief Technology Officer and Chief Sustainability Officer. Mr. Crawford brings considerable experience, leadership and knowledge of the organization that will be critical through the transition. Duyuru • Oct 07
Eastman Chemical Company to Report Q3, 2025 Results on Nov 03, 2025 Eastman Chemical Company announced that they will report Q3, 2025 results at 4:15 PM, US Eastern Standard Time on Nov 03, 2025 Duyuru • Sep 22
Eastman Chemical Company(NYSE:EMN) dropped from FTSE All-World Index (USD) Eastman Chemical Company(NYSE:EMN) dropped from FTSE All-World Index (USD) Duyuru • Aug 08
Eastman Chemical Company Declares Quarterly Cash Dividend, Payable on October 7, 2025 The Board of Directors of Eastman Chemical Company has declared a quarterly cash dividend of $0.83 per share on the company's common stock. The dividend is payable Oct. 7, 2025, to stockholders of record as of Sept. 15, 2025. Duyuru • Jul 02
Eastman Chemical Company to Report Q2, 2025 Results on Jul 31, 2025 Eastman Chemical Company announced that they will report Q2, 2025 results at 4:15 PM, US Eastern Standard Time on Jul 31, 2025 Duyuru • Jun 28
Eastman Chemical Company Appoints Damon Audia as New Director The Board of Directors of Eastman Chemical Compan has appointed Mr. Damon Audia as a director. Audia is Senior Vice President and Chief Financial Officer for AGCO Corporation, an $11.7 billion global leader in agricultural machinery and precision ag technology. Audia joined AGCO in 2022 as Chief Financial Officer. Prior to this, he held key financial leadership roles at Kennametal Inc., Carpenter Technology Corporation, and The Goodyear Tire & Rubber Company. Audia began his career in the automotive industry with Delphi Corporation and General Motors. He holds an MBA from Carnegie Mellon University and a bachelor’s degree in general studies from the University of Michigan. Duyuru • Jun 12
Eastman Launches Esmeri™ CC1N10, a Sustainable Beauty Breakthrough for Color Cosmetics Eastman announced the launch of Esmeri™ CC1N10, a high-performance, readily biodegradable* cellulose ester micropowder for color cosmetics. Sourced from sustainably managed forests, Esmeri is designed to meet stringent EU regulations for synthetic polymer microparticles that fully biodegrade and do not persist in the environment. Esmeri CC1N10 delivers a sustainable micropowder solution without compromising performance in color cosmetics. It offers a visually superior soft-focus optical effect, improved color intensity and payoff, and uniform coverage and sensorial experience in lipsticks, foundations and pressed powders. Designed for compatibility and stability, Esmeri is highly compatible with lipophilic cosmetic formulations and serves as a sustainable alternative to traditional microparticles.Leveraging over a century of expertise in cellulose esters technology, Eastman developed this ingredient to meet strict regulations while delivering superior performance. Esmeri CC1N10 is freshwater readily biodegradable, non-nano size and sustainably sourced from 63% wood pulp. It complies with the European Commission's regulation on synthetic polymer microparticles (Regulation EU 2023/2055) and is in alignment with the European Union's Zero Pollution Action Plan to reduce microplastics released into the environment by 30% by 2030. The unique properties of Esmeri CC1N10 enhance performance, resulting in a powder that optimally scatters light and fills in fine lines and wrinkles. This creates a smooth, even effect on skin across a variety of applications: Lipsticks have improved color intensity for a long-lasting, smoother application with greater evenness of coverage. Liquid foundations exhibit a desirable soft-focus and mattifying effect that diminishes imperfections for a smooth, even finish. Pressed powders display optimal compaction and desired pick-up that contribute to a beautiful, photo-finished appearance. Duyuru • May 14
SUQQU Launches Sustainable Make Make Makeup Compact with Eastman Cristal™ One SUQQU has unveiled a new setting powder housed in a compact crafted from Eastman Cristal™ One copolyester. Recognizing the need for a suitable alternative to acrylonitrile butadiene styrene (ABS) in the base plate of its compact, SUQQU partnered with Eastman. Together, the two companies identified that Cristal One not only filled SUQQU's rigorous functional criteria but also maintained a luxury aesthetic. This recyclable resin helped SUQQU offer its consumers a sustainable alternative in its iconic compact. Eastman's Cristal One portfolio provides an end-of-life solution for cosmetics brands. The specialty PET is recognized by both the Association of Plastic Recyclers (APR) and RecyClass as being compatible with the resin identification code 1 (RIC1) stream, which means it can go directly into most municipal recycling systems. As global sustainability regulations continue to evolve, SUQQU has designed its luxury compact to align with the European Commission's Packaging and Packaging Waste Regulations (PPWR) and is continuously working toward achieving full compliance. Cristal One enhances both the durability and aesthetics of cosmetics packaging. The copolyester demonstrates superior performance compared to other candidate materials, such as PET, particularly excelling in drop impact resistance after secondary processing. Cristal One also meets the stringent requirements of SUQQU's design and performance standards. It allows for perfect shape while providing a deep, glossy black finish that enhances the product's luxury appeal. This could not be done with the ABS the brand previously used. Duyuru • May 07
Eastman Chemical Company Announces Elimination of Executive Position, Effective June 2, 2025 Eastman Chemical Company announced that Steve Crawford, who transitioned from Executive Vice President, Manufacturing and Chief Sustainability Officer to Executive Vice President, Methanolysis Operations and Worldwide Engineering and Construction Transformation in January 2025, will have his position eliminated effective June 2, 2025. This decision is part of the company’s ongoing succession planning process. Following the effective date, Mr. Crawford’s operational responsibilities will be transitioned to other Eastman executives. The company determined that the elimination of this position constitutes a separation meriting receipt of severance consistent with the company’s customary severance practice for all employees. Duyuru • May 02
Eastman Chemical Company Declares Quarterly Cash Dividend, Payable on July 8, 2025 The Board of Directors of Eastman Chemical Company has declared a quarterly cash dividend of $0.83 per share on the company's common stock. The dividend is payable July 8, 2025, to stockholders of record as of June 13, 2025. Duyuru • Apr 11
Eastman Chemical Company to Report Q1, 2025 Results on Apr 24, 2025 Eastman Chemical Company announced that they will report Q1, 2025 results at 4:15 PM, US Eastern Standard Time on Apr 24, 2025 Duyuru • Mar 24
Eastman Chemical Company, Annual General Meeting, May 01, 2025 Eastman Chemical Company, Annual General Meeting, May 01, 2025. Duyuru • Feb 14
Eastman Chemical Company Declares Quarterly Dividend, Payable on April 7, 2025 The Board of Directors of Eastman Chemical Company has declared a quarterly cash dividend of $0.83 per share on the company's common stock. The dividend is payable April 7, 2025, to stockholders of record as of March 14, 2025. Duyuru • Jan 09
Eastman Chemical Company to Report Q4, 2024 Results on Jan 30, 2025 Eastman Chemical Company announced that they will report Q4, 2024 results at 4:15 PM, US Eastern Standard Time on Jan 30, 2025 Duyuru • Dec 06
Eastman Chemical Company Increases Quarterly Cash Dividend, Payable on January 8, 2025 The Board of Directors of Eastman Chemical Company has declared an increase in the quarterly cash dividend from $0.81 to $0.83 per share on its common stock. The dividend is payable January 8, 2025, to stockholders of record as of December 16, 2024. Reported Earnings • Nov 01
Third quarter 2024 earnings released: EPS: US$1.55 (vs US$1.50 in 3Q 2023) Third quarter 2024 results: EPS: US$1.55 (up from US$1.50 in 3Q 2023). Revenue: US$2.46b (up 8.7% from 3Q 2023). Net income: US$180.0m (up 1.1% from 3Q 2023). Profit margin: 7.3% (down from 7.9% in 3Q 2023). Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Duyuru • Oct 03
Eastman Chemical Company to Report Q3, 2024 Results on Oct 31, 2024 Eastman Chemical Company announced that they will report Q3, 2024 results at 4:15 PM, Eastern Standard Time on Oct 31, 2024 Upcoming Dividend • Sep 09
Upcoming dividend of US$0.81 per share Eligible shareholders must have bought the stock before 16 September 2024. Payment date: 07 October 2024. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (5.3%). Duyuru • Aug 20
Eastman Chemical Company Appoints Iké Adeyemi as Senior Vice President, Chief Legal Officer and Corporate Secretary, Effective Sept. 9, 2024 Eastman Chemical Company announced that Iké Adeyemi will join the company on Sept. 9, 2024, and will serve as Senior Vice President, Chief Legal Officer and Corporate Secretary. Adeyemi joins Eastman from The Clorox Company, where she served as vice president, corporate secretary, and associate general counsel since December 2020. In this role, she led a broad team of legal professionals and oversaw legal support for corporate, finance, tax and treasury matters, corporate governance, SEC reporting, ethics & compliance, global trade compliance, and enterprise risk management, among other responsibilities. Prior to joining Clorox, Adeyemi was the head of legal, corporate/M&A at BHP Billiton, a leading natural resources company, based in London. She advised senior leadership on a diverse range of cross-border corporate matters, with a primary focus on international public and private M&A transactions, including divestments, spinoffs, acquisitions, and joint ventures. She joined BHP Billiton in 2011 and was promoted to head of legal, corporate/M&A in 2018. Earlier in her career, Adeyemi also worked at the law firms of Skadden, Arps, Slate, Meagher & Flom in the U.S. and White & Case LLP in London. Adeyemi holds a J.D. from Harvard Law School and an A.B. in History from Harvard University. Declared Dividend • Aug 05
Second quarter dividend of US$0.81 announced Shareholders will receive a dividend of US$0.81. Ex-date: 16th September 2024 Payment date: 7th October 2024 Dividend yield will be 3.3%, which is lower than the industry average of 6.1%. Sustainability & Growth Dividend is covered by both earnings (43% earnings payout ratio) and cash flows (63% cash payout ratio). The dividend has increased by an average of 8.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 31% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Aug 02
Eastman Chemical Company Declares Quarterly Cash Dividend, Payable on Oct. 7, 2024 The Board of Directors of Eastman Chemical Company declared a quarterly cash dividend of $0.81 per share on the company's common stock. The dividend is payable Oct. 7, 2024, to stockholders of record as of Sept. 16, 2024. Reported Earnings • Jul 26
Second quarter 2024 earnings released: EPS: US$1.96 (vs US$2.29 in 2Q 2023) Second quarter 2024 results: EPS: US$1.96 (down from US$2.29 in 2Q 2023). Revenue: US$2.36b (up 1.7% from 2Q 2023). Net income: US$230.0m (down 15% from 2Q 2023). Profit margin: 9.7% (down from 12% in 2Q 2023). Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Duyuru • Jul 26
Eastman Chemical Company Provides Earnings Guidance for the Year 2024 Eastman Chemical Company provided earnings guidance for the year 2024. The company expects 2024 EPS to be between $7.40 and $7.85. Duyuru • Jul 04
Eastman Chemical Company to Report Q2, 2024 Results on Jul 25, 2024 Eastman Chemical Company announced that they will report Q2, 2024 results at 4:15 PM, US Eastern Standard Time on Jul 25, 2024 Upcoming Dividend • Jun 10
Upcoming dividend of US$0.81 per share Eligible shareholders must have bought the stock before 17 June 2024. Payment date: 09 July 2024. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (5.1%). Duyuru • Jun 02
Eastman Chemical Company Appoints Donald W. Slager as Director and Member of Audit Committee, Finance Committee, and Environmental, Safety and Sustainability Committee The Board of Directors of Eastman Chemical Company, on May 27, 2024, has elected Mr. Donald W. Slager as a director to serve until the Company’s 2025 Annual Meeting of Stockholders. He has been appointed to serve as a member of the Audit Committee, the Finance Committee, and the Environmental, Safety and Sustainability Committee of the Board. Slager is the former Chief Executive Officer for Republic Services Inc. Slager retired as CEO of Republic Services Inc., in 2021, after serving in that role since 2011. He joined the company in 2008 as President and Chief Operating Officer, following the merger with Allied Waste Industries Inc., where he held the same position. Slager started his career in the environmental services industry in 1980 at Waste Management Inc., and went on to hold various leadership roles at National Waste Services Inc., before its merger with Allied. In addition to his position on Eastman’s Board of Directors, Slager currently serves on the board of Martin Marietta Materials Inc., a leading supplier of construction aggregates and heavy building materials. Recent Insider Transactions • May 16
Independent Director recently sold €1.3m worth of stock On the 14th of May, David Raisbeck sold around 14k shares on-market at roughly €92.90 per share. This transaction amounted to 32% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €2.3m more than they bought in the last 12 months. Declared Dividend • May 06
First quarter dividend of US$0.81 announced Shareholders will receive a dividend of US$0.81. Ex-date: 17th June 2024 Payment date: 9th July 2024 Dividend yield will be 3.4%, which is lower than the industry average of 6.1%. Sustainability & Growth Dividend is covered by both earnings (41% earnings payout ratio) and cash flows (74% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 26% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • May 03
Eastman Chemical Company Declares Quarterly Cash Dividend, Payable on July 9, 2024 The Board of Directors of Eastman Chemical Company has declared a quarterly cash dividend of $0.81 per share on the company's common stock. The dividend is payable July 9, 2024, to stockholders of record as of June 17, 2024. Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: US$1.41 (vs US$1.13 in 1Q 2023) First quarter 2024 results: EPS: US$1.41 (up from US$1.13 in 1Q 2023). Revenue: US$2.31b (down 4.2% from 1Q 2023). Net income: US$165.0m (up 23% from 1Q 2023). Profit margin: 7.1% (up from 5.6% in 1Q 2023). Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Duyuru • Apr 05
Eastman Chemical Company to Report Q1, 2024 Results on Apr 25, 2024 Eastman Chemical Company announced that they will report Q1, 2024 results at 4:15 PM, US Eastern Standard Time on Apr 25, 2024 Duyuru • Mar 22
Eastman Chemical Company, Annual General Meeting, May 02, 2024 Eastman Chemical Company, Annual General Meeting, May 02, 2024, at 11:30 Eastern Daylight. Agenda: To elect directors; to ratify appointment of PricewaterhouseCoopers LLP as the Company's independent registered public accounting firm for the Year Ending December 31, 2024; and to consider other matters. Upcoming Dividend • Mar 07
Upcoming dividend of US$0.81 per share Eligible shareholders must have bought the stock before 14 March 2024. Payment date: 05 April 2024. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (5.9%). Recent Insider Transactions • Mar 05
Chairman & CEO recently sold €971k worth of stock On the 1st of March, Mark Costa sold around 12k shares on-market at roughly €80.92 per share. This transaction amounted to 2.9% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Mark's only on-market trade for the last 12 months. Declared Dividend • Feb 19
Fourth quarter dividend of US$0.81 announced Shareholders will receive a dividend of US$0.81. Ex-date: 14th March 2024 Payment date: 5th April 2024 Dividend yield will be 3.8%, which is lower than the industry average of 6.1%. Sustainability & Growth Dividend is covered by both earnings (42% earnings payout ratio) and cash flows (70% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 38% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Feb 15
Charles K. Stevens to Not Stand for Re-Election to the Board of Eastman Chemical Company On February 13, 2024, Charles K. Stevens III notified the Board of Directors of Eastman Chemical Company that he would not stand for re-election to the Board upon the completion of his current term, which expires at the company's 2024 Annual Meeting of Stockholders. Duyuru • Feb 14
Eastman Chemical Company Declares Quarterly Cash Dividend, Payable on April 5, 2024 The board of directors of Eastman Chemical Company has declared a quarterly cash dividend of $0.81 per share on the company's common stock. The dividend is payable April 5, 2024, to stockholders of record as of March 15, 2024. Reported Earnings • Feb 02
Full year 2023 earnings released: EPS: US$7.54 (vs US$6.42 in FY 2022) Full year 2023 results: EPS: US$7.54 (up from US$6.42 in FY 2022). Revenue: US$9.21b (down 13% from FY 2022). Net income: US$894.0m (up 13% from FY 2022). Profit margin: 9.7% (up from 7.5% in FY 2022). Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Duyuru • Jan 12
Eastman Chemical Company to Report Q4, 2023 Results on Feb 01, 2024 Eastman Chemical Company announced that they will report Q4, 2023 results at 4:15 PM, US Eastern Standard Time on Feb 01, 2024 Duyuru • Dec 07
Eastman Chemical Company Declares Quarterly Cash Dividend, Payable on January 5, 2024 The Board of Directors of Eastman Chemical Company has declared an increase in the quarterly cash dividend from $0.79 to $0.81 per share on its common stock. The dividend is payable January 5, 2024, to stockholders of record as of December 18, 2023. Duyuru • Dec 02
INEOS Acetyls Americas Ltd completed the acquisition of Texas City Operations of Eastman Chemical Company (NYSE:EMN). INEOS Acetyls Americas Ltd entered into a definitive agreement to acquire Texas City Operations of Eastman Chemical Company (NYSE:EMN) for approximately $490 million on September 27, 2023. The total sale price of $490 million consists of approximately $415 million cash at closing and the remainder in equal installments on the first and second anniversaries of the closing. As of October 27, 2023, the total sales price includes $413 million in cash at closing and an additional $38.5 million to be paid on each of the first and second anniversaries of the closing date of the transaction. The final purchase price is subject to working capital and other adjustments at closing. Proceeds from the divestiture in the near term are expected to be used for debt repayment. Eastman will retain ownership of its plasticizer business at the site, which INEOS will operate for Eastman as part of this agreement. The transaction is subject to regulatory approvals and satisfaction of other customary closing conditions, is expected to be completed in the fourth quarter of 2023. Phillip Oldham, Eric Zabinski, Alex Anderson, Jeff Walbridge, Kim Williams, Adit Khorana, John Rousakis, John Renneisen, Austin Elder, David Ribner, and Scott Gleason of O'Melveny & Myers LLP acted as legal advisor to INEOS Acetyls Americas Ltd. Bill Rowland of Jones Day acted as legal advisor for Eastman.
INEOS Acetyls Americas Ltd completed the acquisition of Texas City Operations of Eastman Chemical Company (NYSE:EMN) on December 1, 2023. The total sale price of $490 million consists of approximately $415 million cash at closing and the remainder in equal installments on the first and second anniversaries of the closing. The final purchase price is subject to working capital and other customary post-closing adjustments. Proceeds from the divestiture in the near term are expected to be used for debt repayment. Duyuru • Oct 28
Eastman Chemical Company Provides Earnings Guidance for the Full-Year 2023 Eastman Chemical Company provided earnings guidance for the full-year 2023. For the period, the expect 2023 EPS to be between $6.30 and $6.50. Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: US$1.50 (vs US$2.49 in 3Q 2022) Third quarter 2023 results: EPS: US$1.50 (down from US$2.49 in 3Q 2022). Revenue: US$2.27b (down 16% from 3Q 2022). Net income: US$178.0m (down 41% from 3Q 2022). Profit margin: 7.9% (down from 11% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Duyuru • Oct 05
Eastman Chemical Company to Report Q3, 2023 Results on Oct 26, 2023 Eastman Chemical Company announced that they will report Q3, 2023 results at 4:30 PM, US Eastern Standard Time on Oct 26, 2023 Duyuru • Sep 29
INEOS Acetyls Americas Ltd entered into a definitive agreement to acquire Texas City Operations of Eastman Chemical Company (NYSE:EMN) for approximately $490 million. INEOS Acetyls Americas Ltd entered into a definitive agreement to acquire Texas City Operations of Eastman Chemical Company (NYSE:EMN) for approximately $490 million on September 28, 2023. The total sale price of $490 million consists of approximately $415 million cash at closing and the remainder in equal installments on the first and second anniversaries of the closing. Proceeds from the divestiture in the near term are expected to be used for debt repayment. Eastman will retain ownership of its plasticizer business at the site, which INEOS will operate for Eastman as part of this agreement. The transaction is subject to regulatory approvals and satisfaction of other customary closing conditions, is expected to be completed in the fourth quarter of 2023. Upcoming Dividend • Sep 07
Upcoming dividend of US$0.79 per share at 3.8% yield Eligible shareholders must have bought the stock before 14 September 2023. Payment date: 06 October 2023. Payout ratio is a comfortable 53% but the company is paying out more than the cash it is generating. Trailing yield: 3.8%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (5.9%). Duyuru • Aug 04
Eastman Chemical Company Declares Quarterly Cash Dividend, Payable on Oct. 6, 2023 The Board of Directors of Eastman Chemical Company has declared a quarterly cash dividend of $0.79 per share on the company's common stock. The dividend is payable Oct. 6, 2023, to stockholders of record as of Sept. 15, 2023. New Risk • Jul 28
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 7.2% Last year net profit margin: 11% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (20% operating cash flow to total debt). Minor Risks Dividend is not well covered by cash flows (113% cash payout ratio). Profit margins are more than 30% lower than last year (7.2% net profit margin). Reported Earnings • Jul 28
Second quarter 2023 earnings released: EPS: US$2.29 (vs US$2.05 in 2Q 2022) Second quarter 2023 results: EPS: US$2.29 (up from US$2.05 in 2Q 2022). Revenue: US$2.32b (down 17% from 2Q 2022). Net income: US$272.0m (up 6.3% from 2Q 2022). Profit margin: 12% (up from 9.2% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 1.4% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Duyuru • Jul 07
Eastman Chemical Company to Report Q2, 2023 Results on Jul 27, 2023 Eastman Chemical Company announced that they will report Q2, 2023 results at 4:15 PM, US Eastern Standard Time on Jul 27, 2023 Upcoming Dividend • Jun 07
Upcoming dividend of US$0.79 per share at 3.8% yield Eligible shareholders must have bought the stock before 14 June 2023. Payment date: 07 July 2023. Payout ratio is a comfortable 54% but the company is paying out more than the cash it is generating. Trailing yield: 3.8%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (5.8%). Duyuru • May 09
Eastman Chemical Company Announces the Appointment of Adrian Holt as Chief Human Resources Officer Eastman Chemical Company announced the appointment of Adrian Holt as Chief Human Resources Officer following the retirement of Perry Stuckey. Holt currently serves as Vice President, Global Talent Acquisition and Human Resources. His appointment is effective immediately. With more than 20 years of HR experience, Holt has played a pivotal role in developing and implementing impactful people programs and strategies since joining Eastman in 2016. In his current role, he heads the company's international team of nearly 200 HR professionals across 60 manufacturing, sales, and research locations. Before joining Eastman, Holt held HR leadership positions of increasing responsibilities at companies such as BASF and Wireco. Prior to that, he worked for over a decade as a practicing attorney, specializing in mergers and acquisitions. Holt graduated from University of Wales with a bachelor's degree in Law. He qualified as an attorney at Manchester Law School and, after practicing as an attorney, received his Master of Business Administration degree from Manchester Business School in 2003. Holt serves on the Board of Johnson City Boys Girls Club and currently as Chair of the Riegel and Emory Board of The Darla Moore School of Business at the University of South Carolina. Duyuru • May 06
Eastman Chemical Company Declares Quarterly Cash Dividend, Payable on July 7, 2023 The Board of Directors of Eastman Chemical Company has declared a quarterly cash dividend of $0.79 per share on the company's common stock. The dividend is payable July 7, 2023, to stockholders of record as of June 15, 2023. Reported Earnings • Apr 30
First quarter 2023 earnings released: EPS: US$1.13 (vs US$1.82 in 1Q 2022) First quarter 2023 results: EPS: US$1.13 (down from US$1.82 in 1Q 2022). Revenue: US$2.41b (down 11% from 1Q 2022). Net income: US$134.0m (down 43% from 1Q 2022). Profit margin: 5.6% (down from 8.7% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 07
Upcoming dividend of US$0.79 per share at 3.8% yield Eligible shareholders must have bought the stock before 14 March 2023. Payment date: 10 April 2023. Payout ratio is a comfortable 48% but the company is paying out more than the cash it is generating. Trailing yield: 3.8%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (5.2%). Recent Insider Transactions • Feb 23
Insider recently sold €155k worth of stock On the 17th of February, Julie McAlindon sold around 2k shares on-market at roughly €81.49 per share. This transaction amounted to 34% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €1.7m more than they bought in the last 12 months. Duyuru • Feb 07
Eastman Chemical Company Elects Linnie M. Haynesworth as Director The Board of Directors of Eastman Chemical Company on February 3, 2023 elected Ms. Linnie M. Haynesworth as a director. Haynesworth was most recently the sector vice president and general manager of the Cyber and Intelligence Mission Solutions Division for Northrop Grumman Corporation’s (NGC) Mission Systems Sector, where she was responsible for multiple $1 billion-plus divisions. Haynesworth has more than 30 years of industry experience in technology, including aerospace, intelligence and cybersecurity systems. She served as NGC’s division vice president for Aerospace Products and led large space program efforts. Haynesworth also held various senior level roles at NGC within the areas of program management, supply chain, subcontract technical management and engineering, and served as the executive co-chair of the NGC’s Women in Leadership program. In addition to her position on Eastman’s board of directors, Haynesworth currently serves on the boards of Micron Technology Inc., Truist Financial Corporation, and Automatic Data Processing Inc. Haynesworth received a Bachelor of Science degree in Electrical Engineering from the University of Southern California. Reported Earnings • Jan 27
Full year 2022 earnings released: EPS: US$6.42 (vs US$6.35 in FY 2021) Full year 2022 results: EPS: US$6.42. Revenue: US$10.6b (up 1.0% from FY 2021). Net income: US$793.0m (down 7.5% from FY 2021). Profit margin: 7.5% (down from 8.2% in FY 2021). Revenue is forecast to stay flat during the next 3 years compared to a 1.6% growth forecast for the Chemicals industry in Germany. Duyuru • Jan 06
Eastman Chemical Company to Report Q4, 2022 Results on Jan 26, 2023 Eastman Chemical Company announced that they will report Q4, 2022 results at 4:30 PM, US Eastern Standard Time on Jan 26, 2023 Upcoming Dividend • Dec 07
Upcoming dividend of US$0.79 per share Eligible shareholders must have bought the stock before 14 December 2022. Payment date: 06 January 2023. Payout ratio is a comfortable 33% but the company is paying out more than the cash it is generating. Trailing yield: 3.7%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (5.5%). Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: US$2.49 (vs US$2.59 in 3Q 2021) Third quarter 2022 results: EPS: US$2.49 (down from US$2.59 in 3Q 2021). Revenue: US$2.71b (flat on 3Q 2021). Net income: US$301.0m (down 14% from 3Q 2021). Profit margin: 11% (down from 13% in 3Q 2021). Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 20
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €78.86, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 10x in the Chemicals industry in Germany. Total returns to shareholders of 31% over the past three years. Upcoming Dividend • Sep 07
Upcoming dividend of US$0.76 per share Eligible shareholders must have bought the stock before 14 September 2022. Payment date: 07 October 2022. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (5.9%). Reported Earnings • Jul 30
Second quarter 2022 earnings released: EPS: US$2.05 (vs US$1.07 loss in 2Q 2021) Second quarter 2022 results: EPS: US$2.05 (up from US$1.07 loss in 2Q 2021). Revenue: US$2.78b (up 4.9% from 2Q 2021). Net income: US$256.0m (up US$402.0m from 2Q 2021). Profit margin: 9.2% (up from net loss in 2Q 2021). The move to profitability was primarily driven by lower expenses. Over the next year, revenue is forecast to stay flat compared to a 5.7% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Jul 08
Eastman Chemical Company to Report Q2, 2022 Results on Jul 28, 2022 Eastman Chemical Company announced that they will report Q2, 2022 results at 4:30 PM, US Eastern Standard Time on Jul 28, 2022 Buying Opportunity • Jun 18
Now 25% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be €112, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 13%. For the next 3 years, revenue is forecast to grow by 0.4% per annum. Earnings is also forecast to grow by 5.4% per annum over the same time period. Upcoming Dividend • Jun 07
Upcoming dividend of US$0.76 per share Eligible shareholders must have bought the stock before 14 June 2022. Payment date: 08 July 2022. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of German dividend payers (4.2%). Lower than average of industry peers (4.8%). Recent Insider Transactions • May 06
Insider recently sold €1.0m worth of stock On the 3rd of May, Lucian Boldea sold around 11k shares on-market at roughly €97.56 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €10m more than they bought in the last 12 months. Duyuru • May 06
Eastman Chemical Company Declares Quarterly Cash Dividend, Payable on July 8, 2022 The Board of Directors of Eastman Chemical Company has declared a quarterly cash dividend of $0.76 per share on the company's common stock. The dividend is payable July 8, 2022, to stockholders of record as of June 15, 2022. Reported Earnings • May 01
First quarter 2022 earnings released: EPS: US$1.82 (vs US$2.01 in 1Q 2021) First quarter 2022 results: EPS: US$1.82 (down from US$2.01 in 1Q 2021). Revenue: US$2.71b (up 13% from 1Q 2021). Net income: US$235.0m (down 14% from 1Q 2021). Profit margin: 8.7% (down from 11% in 1Q 2021). Over the next year, revenue is forecast to stay flat compared to a 11% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Duyuru • Apr 08
Eastman Chemical Company to Report Q1, 2022 Results on Apr 28, 2022 Eastman Chemical Company announced that they will report Q1, 2022 results at 4:30 PM, US Eastern Standard Time on Apr 28, 2022 Upcoming Dividend • Mar 07
Upcoming dividend of US$0.76 per share Eligible shareholders must have bought the stock before 14 March 2022. Payment date: 01 April 2022. Payout ratio is a comfortable 45% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of German dividend payers (3.5%). Lower than average of industry peers (4.6%). Recent Insider Transactions • Mar 02
Insider recently sold €521k worth of stock On the 25th of February, Mark Cox sold around 5k shares on-market at roughly €107 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €9.3m more than they bought in the last 12 months. Reported Earnings • Feb 27
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: US$6.35 (up from US$3.53 in FY 2020). Revenue: US$10.5b (up 24% from FY 2020). Net income: US$857.0m (up 79% from FY 2020). Profit margin: 8.2% (up from 5.6% in FY 2020). Revenue exceeded analyst estimates by 3.3%. Over the next year, revenue is expected to shrink by 1.6% compared to a 2.6% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Duyuru • Feb 24
Eastman Chemical Company Declares Quarterly Cash Dividend, Payable on April 1, 2022 The Board of Directors of Eastman Chemical Company has declared a quarterly cash dividend of $0.76 per share on the company's common stock. The dividend is payable April 1, 2022, to stockholders of record as of March 15, 2022. Duyuru • Feb 15
Milberg Coleman Bryson Phillips Grossman Files Eastman Chemical Company Steam Pipe Explosion Lawsuit Milberg Coleman Bryson Phillips Grossman (Milberg) has filed a class action lawsuit in response to the Eastman Chemical Company Steam Pipe Explosion in Kingsport, Tennessee. The explosion occurred on January 31, 2022, at Eastman Chemical Company's Kingsport location, causing asbestos and other toxic materials to be sprayed into the air and spread throughout the surrounding community. Milberg attorneys Greg Coleman, Billy Ringger, Will Ladnier, Melissa Sims, Roy Mason, Ginny Whitener, and Kelsey Davies filed a class action lawsuit against Eastman Chemical Company on February 14, 2022. The complaint, filed in Sullivan County Circuit Court, includes claims for public and private nuisance, trespass, negligence, and strict liability for ultra-hazardous activity. Lead plaintiff Sharon Weatherly owns a home in the affected area. She says she and her neighbors were exposed to the toxic contaminants released during the explosion and claims in the lawsuit that her home and others in Kingsport have lost value as a result of this incident. Duyuru • Feb 08
Eastman Chemical Company Provides Earnings Guidance for the First Quarter 2022 Eastman Chemical Company provides earnings guidance for the first quarter 2022. The company expects first-quarter earnings per share to be between $2.05 and $2.25. Duyuru • Jan 29
Eastman Chemical Company Provides Earnings Guidance for the Year 2022 Eastman Chemical Company provided earnings guidance for the year 2022. The company expects 2022 revenue to be higher than 2021. Reported Earnings • Jan 28
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: US$6.35 (up from US$3.53 in FY 2020). Revenue: US$10.5b (up 24% from FY 2020). Net income: US$857.0m (up 79% from FY 2020). Profit margin: 8.2% (up from 5.6% in FY 2020). Revenue exceeded analyst estimates by 3.3%. Over the next year, revenue is expected to shrink by 6.4% compared to a 5.8% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Buying Opportunity • Jan 22
Now 21% undervalued Over the last 90 days, the stock is up 17%. The fair value is estimated to be US$136, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.8% per annum over the last 3 years. Earnings per share has declined by 40% per annum over the last 3 years. Upcoming Dividend • Dec 08
Upcoming dividend of US$0.76 per share Eligible shareholders must have bought the stock before 14 December 2021. Payment date: 07 January 2022. Payout ratio is a comfortable 73% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of German dividend payers (3.4%). Lower than average of industry peers (3.8%). Executive Departure • Nov 29
Independent Director Vanessa Allen Sutherland has left the company On the 17th of November, Vanessa Allen Sutherland's tenure as Independent Director ended after less than a year in the role. As of September 2021, Vanessa still personally held only 101.00 shares (€9.1k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 5.33 years. Executive Departure • Nov 29
Independent Director Vanessa Allen Sutherland has left the company On the 17th of November, Vanessa Allen Sutherland's tenure as Independent Director ended after less than a year in the role. As of September 2021, Vanessa still personally held only 101.00 shares (€9.1k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 5.33 years. Executive Departure • Nov 29
Independent Director Vanessa Allen Sutherland has left the company On the 17th of November, Vanessa Allen Sutherland's tenure as Independent Director ended after less than a year in the role. As of September 2021, Vanessa still personally held only 101.00 shares (€9.1k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 5.33 years. Executive Departure • Nov 29
Independent Director Vanessa Allen Sutherland has left the company On the 17th of November, Vanessa Allen Sutherland's tenure as Independent Director ended after less than a year in the role. As of September 2021, Vanessa still personally held only 101.00 shares (€9.1k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 5.33 years. Executive Departure • Nov 28
Independent Director Vanessa Allen Sutherland has left the company On the 17th of November, Vanessa Allen Sutherland's tenure as Independent Director ended after less than a year in the role. As of September 2021, Vanessa still personally held only 101.00 shares (€9.1k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 5.33 years. Executive Departure • Nov 28
Independent Director Vanessa Allen Sutherland has left the company On the 17th of November, Vanessa Allen Sutherland's tenure as Independent Director ended after less than a year in the role. As of September 2021, Vanessa still personally held only 101.00 shares (€9.1k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 5.33 years. Executive Departure • Nov 28
Independent Director Vanessa Allen Sutherland has left the company On the 17th of November, Vanessa Allen Sutherland's tenure as Independent Director ended after less than a year in the role. As of September 2021, Vanessa still personally held only 101.00 shares (€9.1k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 5.33 years. Executive Departure • Nov 28
Independent Director Vanessa Allen Sutherland has left the company On the 17th of November, Vanessa Allen Sutherland's tenure as Independent Director ended after less than a year in the role. As of September 2021, Vanessa still personally held only 101.00 shares (€9.1k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 5.33 years. Executive Departure • Nov 28
Independent Director Vanessa Allen Sutherland has left the company On the 17th of November, Vanessa Allen Sutherland's tenure as Independent Director ended after less than a year in the role. As of September 2021, Vanessa still personally held only 101.00 shares (€9.1k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 5.33 years. Executive Departure • Nov 28
Independent Director Vanessa Allen Sutherland has left the company On the 17th of November, Vanessa Allen Sutherland's tenure as Independent Director ended after less than a year in the role. As of September 2021, Vanessa still personally held only 101.00 shares (€9.1k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 5.33 years. 
