📈 Price History

Ratio Health

— Excellent

— Good

— Average

— Poor

By Category

📊 Sector Averages

About

Eastman Chemical Company operates as a specialty materials company in the United States, China, and internationally.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

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⭐ Superinvestors Holding EMN

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Manager	Shares	Value	% of Fund	Period
Jim Simons Renaissance Technologies LLC	24.7K	$1.9M	0.00%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific ~ Volatile 4 quarters analysed

Q2 2025

Mixed

Management expresses cautious uncertainty around trade war impacts and demand, using phrases like 'chaotic', 'no one knows', 'we just don't know', while also conveying confidence in controllable actions such as cost cuts, methanolysis debottlenecking, and commercial excellence.

Q3 2025

Cautious

Management repeatedly described the environment as 'chaotic,' 'exaggerated,' and 'hard to call.' They emphasized uncertainties around demand, inventory destocking, and trade disputes, while avoiding firm commitments on recovery timing. Language such as 'difficult to know,' 'a little hard to call,' and 'we are just going to have to wait' underscored a guarded tone.

Q4 2025

Cautious

Management emphasizes actions within their control (cost cuts, volume growth) but repeatedly highlights macro uncertainty and headwinds. Language such as 'we feel good about that guidance' balanced with 'there is a lot of uncertainty' and 'we need to prove all that' shows a guarded optimism.

Q1 2026 latest

Confident Specific

Management repeatedly provided specific numerical guidance and detailed explanations for each segment, such as pricing actions ($500M), Q2 CI EBIT around $50M, and fiber earnings range $210-$240M. They also discussed contract commitments and market share gains with specificity.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis is modestly stronger after this call. Eastman demonstrated pricing power in both specialties and commodities, with the Middle East conflict providing a near-term tailwind to Chemical Intermediates that is not fully priced in. The Renew platform is delivering on its growth promise despite weak end markets. However, fibers remain a drag, and the uncertain duration of the middle-east disruption creates risk. Watch for: (1) Strait of Hormuz developments and their impact on CI margins, (2) whether fiber customers meet contract commitments in H2, and (3) further proof of specialty volume gains from methanolysis wins. The call reinforced that Eastman can navigate volatility and protect margins, but a stable economy would unlock fuller earnings potential.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Confident Specific ~ Volatile 4 quarters Full tone analysis in Intelligence →

📊 MIXED Eastman sees CI margins, Renew growth, EPS above $6.

Revenue & Profitability

Eastman implemented $500 million in price increases across the portfolio in Q1. Chemical Intermediates Q2 EBIT is expected to be around $50 million, with similar Q3 levels. Fibers segment guidance was lowered to $210-$240 million, a $20 million reduction from prior expectations. A $20 million IEEPA tariff refund neutralized the winter storm impact of the same amount in Q1. Full-year EPS is projected to be above $6 per share.

Outlook

Management sees flat underlying demand in 2026 but expects supply tightness from Middle East conflict to boost Chemical Intermediates margins and volumes. Fiber volumes face risk from Middle East customer disruptions, but second half should be stronger due to contract commitments and energy tailwinds. Specialty businesses will benefit from share gains and price increases to offset raw material inflation.

Growth Drivers

The Renew platform is growing 4%-5% in revenue, driven by new wins in Tritan and cosmetic packaging, as well as rPET sales to Pepsi and other brands. Chemical Intermediates volume upside is from supply shortages in Asia. Advanced Materials gains from innovation (HUD, EVs) and market share capture from competitors facing higher costs.

Balance Sheet & CapEx

Not discussed in this earnings call.

Margins

Specialties are achieving mid-single-digit sequential price increases from Q1 to Q2 to cover raw material inflation. Chemical Intermediates prices are up nearly 20% sequentially, expanding margins. AM margins remain impacted by low utilization but are expected to recover as volumes improve. Margin trajectory is supported by cost reduction actions and operating leverage in the second half.

Key Risks

Management flagged fiber volume risk from Middle East customers unable to export their products. Inflation could dampen consumer discretionary demand. The duration of Middle East conflict and Strait of Hormuz closure is uncertain. There is also risk of customers building inventory that may reverse later, though not seen currently.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-07-31

Q2 saw strong volume and earnings growth, especially in Advanced Materials and Chemical Intermediates, with robust innovation and circular platform contributions. Full-year earnings outlook has improved, supported by price discipline, cost reductions, and operational tailwinds.

Q1 2026 Q1 2026 2026-05-01

Revenue growth in Renew and CI segments is strong, driven by price increases and market share gains amid global supply disruptions. Earnings per share are projected above $6, with a stronger second half expected for AM and fibers.

Q4 2025 Q4 2025 2026-01-30

Management targets significant earnings growth in 2026, driven by cost reductions, volume recovery, and circular economy initiatives, while navigating macroeconomic uncertainty and structural challenges in commodity chemicals. EPS could reach up to $6 if market conditions stabilize.

Q3 2025 Q3 2025 2025-11-04

Earnings growth in 2026 is expected from cost reductions, asset utilization tailwinds, and innovation, especially in rPET and specialty products. Market volatility, Chinese overcapacity, and weak consumer demand remain key risks, but strong cash flow supports dividends and buybacks.

Q2 2025 Q2 2025 2025-08-01

Q2 2025 was marked by trade-driven demand volatility, aggressive cost actions, and strong innovation engagement. Methanolysis and structural investments are set to drive future growth, while tariffs and customer caution continue to weigh on near-term results.

📊 Analysis Methodology

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