Eastman Chemical (EMN)

Founded in 1920, Eastman is a global specialty materials company that produces a broad range of products found in items people use every day. With the purpose of enhancing the quality of life in a material way, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. The company's innovation-driven growth model takes advantage of world- class technology platforms, deep customer engagement, and differentiated application development to grow its leading positions in attractive end-markets such as transportation, building and construction, and consumables. As a globally inclusive and diverse company, Eastman employs approximately 14,500 people around the world and serves customers in more than 100 countries. The company had 2019 revenues of approximately $9.3 billion and is headquartered in Kingsport, Tennessee, USA.

Company profile

Ticker

EMN

Exchange

NYSE

Website

www.eastman.com

CEO

Mark Costa

Incorporated

Delaware

Location

Tennessee

Fiscal year end

Dec 31

Sector

Manufacturing > Plastics Material and Resin Manufacturing

Industry (SIC)

Plastic Materials, Synth Resins & Nonvulcan Elastomers

DuPont de Nemours • Dow • Albemarle • Dow Chemical • Hexion • Trinseo • Avient • Hexcel • Kraton • AdvanSix ...

SEC CIK

0000915389

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

Subsidiaries

Accoya USA, LLC • CP Films Vertriebs GmbH • Crown Operations International, LLC • Eastman Acetyls, LLC • Eastman Adhesives Holding B.V. • Eastman Chemical (Barbados) SRL • Eastman Chemical (China) Co., Ltd. • Eastman Chemical (Malaysia) Sdn. Bhd. • Eastman Chemical (Nanjing) Co., Ltd. • Eastman Chemical (PPU) Pte. Ltd. ...

IRS number

621539359

EMN stock data

1M 1Y 5Y

News

From Benzinga Pro

Wells Fargo Maintains Overweight on Eastman Chemical, Lowers Price Target to $110

2 Aug 22

Wells Fargo analyst Michael Sison maintains Eastman Chemical (NYSE:EMN) with a Overweight and lowers the price target from $115 to $110.

Barclays Maintains Equal-Weight on Eastman Chemical, Lowers Price Target to $110

2 Aug 22

Barclays analyst Michael Leithead maintains Eastman Chemical (NYSE:EMN) with a Equal-Weight and lowers the price target from $120 to $110.

RBC Capital Maintains Sector Perform on Eastman Chemical, Raises Price Target to $97

2 Aug 22

RBC Capital analyst Arun Viswanathan maintains Eastman Chemical (NYSE:EMN) with a Sector Perform and raises the price target from $94 to $97.

Benzinga's Top Ratings Upgrades, Downgrades For August 1, 2022

1 Aug 22

Citigroup Downgrades Eastman Chemical to Neutral

1 Aug 22

Press releases

From Benzinga Pro

Eastman Board Elects New Director

8 Aug 22

The Board of Directors of Eastman Chemical Company (NYSE:EMN) has elected Eric L. Butler as a director. Butler is the former Executive Vice President and Chief Administrative Officer of Union Pacific Corporation. This

Eastman Board Declares Dividend

4 Aug 22

The Board of Directors of Eastman Chemical Company (NYSE:EMN) has declared a quarterly cash dividend of $0.76 per share on the company's common stock. The dividend is payable Oct. 7, 2022, to stockholders of record as

Eastman Announces Second-Quarter 2022 Financial Results

28 Jul 22

Eastman Chemical Company (NYSE:EMN) announced its second-quarter 2022 financial results. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220728006015/en/ The

Eastman Schedules Second-Quarter 2022 Financial Results News Release and SEC Form 8-K Filing, Teleconference and Webcast, and Release of Additional Information

7 Jul 22

Eastman Board Chair and CEO Mark J. Costa to be Awarded the 2022 International Palladium Medal

2 Jun 22

Analyst ratings and price targets

Last 3 months

Average target

$111.50

Low target

$87.00

High target

$130.00

Calendar

29 Jul 22

12 Aug 22

31 Dec 22

Financial summary

Financial statements Chart EMN financial data

Quarter (USD)	Jun 22	Mar 22	Dec 21	Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 21	Dec 20	Dec 19	Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	456M	456M	456M	456M	456M	456M
Cash burn (monthly)	10.33M	12.75M	(no burn)	(no burn)	(no burn)	(no burn)
Cash used (since last report)	14.84M	18.32M	n/a	n/a	n/a	n/a
Cash remaining	441.16M	437.68M	n/a	n/a	n/a	n/a
Runway (months of cash)	42.7	34.3	n/a	n/a	n/a	n/a

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Recent insider trades

EMN insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
5 May 22	Renee J Hornbaker	Phantom Stock Units Common Stock	Grant	Acquire A	No	No	105.67	1,041	110K	39,072
5 May 22	Charles K. Stevens III	Common Stock	Grant	Acquire A	No	No	0	1,041	0	3,643
5 May 22	Brett D Begemann	Phantom Stock Units Common Stock	Grant	Acquire A	No	No	105.67	1,041	110K	35,393
5 May 22	Julie Fasone Holder	Common Stock	Grant	Acquire A	No	No	0	1,041	0	11,870

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

Institutional ownership, Q1 2022

EMN institutional ownership history Ownership history

86.7% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	726	738	-1.6%
Opened positions	73	123	-40.7%
Closed positions	85	79	+7.6%
Increased positions	264	228	+15.8%
Reduced positions	244	253	-3.6%

13F shares	Current	Prev Q	Change
Total value	11.93B	13.63B	-12.4%
Total shares	106.52M	112.72M	-5.5%
Total puts	370.1K	681.2K	-45.7%
Total calls	357.8K	461K	-22.4%
Total put/call ratio	1.0	1.5	-30.0%

Largest owners	Shares	Value	Change
Vanguard	16.01M	$1.79B	-0.1%
JPM JPMorgan Chase & Co.	9.85M	$1.1B	-2.1%
BLK Blackrock	8.99M	$1.01B	+1.6%
STT State Street	5.84M	$658.42M	-5.3%
Putnam Investments	3.32M	$372.43M	+20.5%
Ninety One UK	2.69M	$301.61M	-7.3%
MS Morgan Stanley	2.57M	$287.71M	+35.3%
Geode Capital Management	2.52M	$282.2M	-4.1%
FMR	2.17M	$243.48M	+20.3%
LSV Asset Management	2.12M	$237.23M	-5.5%

Largest transactions	Shares	Bought/sold	Change
Capital World Investors	0	-8.45M	EXIT
American Century Companies	1.83M	+1.81M	+12812.9%
Victory Capital Management	88.39K	-1.77M	-95.2%
Norges Bank	0	-1.22M	EXIT
Ceredex Value Advisors	681.68K	+681.68K	NEW
MS Morgan Stanley	2.57M	+669.48K	+35.3%
Putnam Investments	3.32M	+565.09K	+20.5%
Millennium Management	580.94K	+562.52K	+3054.5%
BNS Bank Of Nova Scotia	530.47K	+504.36K	+1931.7%
IVZ Invesco	1.38M	-434.73K	-23.9%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Financial report summary

Competition

XPEL Inc - Reg S

Management Discussion

(1)Contribution to sales revenue of businesses divested which are not in 2022 comparable periods.
Sales revenue increased in second quarter and first six months 2022 compared to second quarter and first six months 2021 as a result of increases in all operating segments. Further discussion by operating segment is presented in "Summary by Operating Segment" in this MD&A.
Gross profit in second quarter and first six months 2022 included incremental costs, net of insurance proceeds, from the steam line incident, and first six months 2021 included accelerated depreciation resulting from the previously reported closure of an advanced interlayers manufacturing facility in North America in the AM segment as part of ongoing site optimization actions. Excluding these non-core and unusual items, gross profit increased in second quarter 2022 compared to second quarter 2021 as a result of increases in all segments except the Fibers segment, and gross profit decreased in first six months 2022 compared to first six months 2021 primarily as a result of decreases in the AM and Fibers segments partially offset by increases in the AFP and CI segments. Further discussion of sales revenue and EBIT changes is presented in "Summary by Operating Segment" in this MD&A.

Content analysis

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	H.S. junior Bad

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