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Eastman Chemical Company is a global specialty materials company that produces a wide range of products found in everyday items . The company operates through four main segments: Advanced Materials, Additives & Functional Products, Chemical Intermediates, and Fibers, each contributing to various markets such as transportation, electronics, construction, food, agriculture, and textiles . Eastman's diverse product portfolio and strategic market engagement drive its business activities and revenue generation .
- Advanced Materials - Focuses on polymers, films, and plastics with differentiated performance properties for end-markets like transportation, electronics, and construction. Key product lines include advanced interlayers, performance films, and specialty plastics .
- Additives & Functional Products - Manufactures materials for diverse markets such as food, agriculture, transportation, and personal care. Key product lines include care additives, coatings additives, functional amines, and specialty fluids .
- Chemical Intermediates - Leverages large-scale and vertical integration to produce intermediates like olefin derivatives and plasticizers, primarily serving industrial chemicals, construction, and health markets .
- Fibers - Produces acetate tow and yarn for filtration media and textiles .
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Mark J. Costa ExecutiveBoard | Chair of the Board and Chief Executive Officer | Board Member at International Flavors & Fragrances Inc. | Joined EMN in 2006 as Chief Marketing Officer; became CEO in January 2014 and Board Chair in July 2014. Previously a senior partner at Monitor Group. | View Report → |
Brad A. Lich Executive | Executive Vice President and Chief Commercial Officer | None | Joined EMN in 2001; held various leadership roles in marketing and business management. Became EVP and Chief Commercial Officer in July 2016. | |
Stephen G. Crawford Executive | Executive Vice President, Methanolysis Operations and Worldwide Engineering & Construction Transformation | None | Joined EMN in 1984; held leadership roles in manufacturing and technology. Previously Chief Technology and Sustainability Officer. Transitioned to current role in January 2025. | |
William T. McLain, Jr. Executive | Executive Vice President and Chief Financial Officer | None | Joined EMN in 2000; held various finance roles, including Corporate Controller and VP of Finance. Became CFO in February 2020 and assumed HR responsibility in January 2023. | |
Brett D. Begemann Board | Director | None | Director since February 2011; retired COO of Bayer Crop Science Division. Former President and COO of Monsanto Company. | |
Donald W. Slager Board | Director | Board Member at Martin Marietta Materials, Inc. | Director since May 2024; retired CEO of Republic Services, Inc. | |
Eric L. Butler Board | Director | President & CEO of Aswani-Butler Investment Associates; Board Member at NiSource, Inc. and West Fraser Timber Co. Ltd | Director since August 2022; retired EVP and Chief Administrative Officer at Union Pacific Corporation. | |
Humberto P. Alfonso Board | Director | Board Member at The Kraft Heinz Company | Director since January 2011; former CFO of Hershey Company and CEO of Yowie Group Ltd. | |
Kim Ann Mink Board | Director | Board Member at Avient Corporation and Air Liquide | Director since July 2018; former CEO of Innophos Holdings, Inc. and senior executive at Dow Chemical and Rohm and Haas Company. | |
Ren\u00e9e J. Hornbaker Board | Director | Board Member at Berry Corporation; CEO of Storey & Gates LLC | Director since September 2003; former CFO of Stream Energy and Flowserve Corporation. |
- Given the mechanical and feedstock preparation issues that have limited the methanolysis plant's operating rates to around 70%, what specific measures are you implementing to achieve consistent operation at higher rates, and how will you mitigate similar challenges in your upcoming projects in France and Texas?
- With the Aventa business showing potential to be larger than Naia, can you elaborate on the expected timelines for significant revenue contributions and the key market adoption risks that could impede Aventa's growth?
- The Other segment's losses have increased from around $50 million to approximately $200 million annually due to factors like pension costs and project start-up expenses; what strategies are in place to reduce these losses moving forward, and how sustainable is this level of expenditure?
- In the Fibers segment, as you shift from cigarette tow to textile fibers like Naia, what constraints are you facing in accelerating this transition, and how are you addressing capacity limitations or market challenges to maximize profitability in textiles?
- Given the current economic environment affecting customer demand in sectors like coatings and agriculture, how are you adjusting your operational strategies to navigate expected softness in Q3 and Q4, and what are your expectations for inventory build-up in these sectors for the coming year?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Competes in the production of cellulose acetate tow, acetate yarn, and acetyl chemical products used in filtration media, apparel, and industrial fabrics. | |
Cerdia International | Competes in the production of cellulose acetate tow and acetyl chemical products used in filtration media, primarily cigarette filters. |
Daicel Corporation | Competes in the production of cellulose acetate tow and acetyl chemical products used in filtration media, primarily cigarette filters. |
UAB Dirbtinis Pluostas | Competes in the production of acetate yarn and fiber for applications in apparel, home furnishings, and industrial fabrics. |
Lenzing AG | Competes in the production of acetate yarn and fiber for applications in apparel, home furnishings, and industrial fabrics. |
Aditya Birla Group | Competes in the production of acetate yarn and fiber for applications in apparel, home furnishings, and industrial fabrics. |
Jiangsu Ruijia Chemistry Co., Ltd. | Competes in the production of acetyl chemical products such as triacetin and cellulose acetate flake used in filtration media. |
Polynt SpA | Competes in the production of acetyl chemical products such as triacetin and cellulose acetate flake used in filtration media. |
Hollingsworth and Vose Company | Competes in the production of nonwoven media for filtration and friction applications in transportation, industrial, and agricultural markets. |
Lydall, Inc. | Competes in the production of nonwoven media for filtration and friction applications in transportation, industrial, and agricultural markets. |
Competes in the production of nonwoven media for filtration and friction applications in transportation, industrial, and agricultural markets. | |
Sekisui Chemical Co., Ltd. | Competes in the production of advanced interlayers such as PVB sheets for automotive safety glass and architectural applications. |
Kuraray Co., Ltd. | Competes in the production of advanced interlayers such as PVB sheets for automotive safety glass and architectural applications. |
Kingboard (Fo Gang) Specialty Resins Limited | Competes in the production of advanced interlayers such as PVB sheets for automotive safety glass and architectural applications. |
Chang Chun Petrochemical Co., Ltd. | Competes in the production of advanced interlayers such as PVB sheets for automotive safety glass and architectural applications. |
Competes in the production of performance films such as window films and protective films for automotive and architectural applications. | |
Competes in the production of performance films such as window films and protective films for automotive and architectural applications. | |
Saint-Gobain S.A. | Competes in the production of performance films such as window films and protective films for automotive and architectural applications. |
S.K. Chemical Industries | Competes in the production of specialty plastics such as copolyesters and biopolymers for consumer packaging, medical, and electronics applications. |
Sichuan Push Acetati Company Limited | Competes in the production of specialty plastics such as copolyesters and biopolymers for consumer packaging, medical, and electronics applications. |
Covestro AG | Competes in the production of specialty plastics such as copolyesters and biopolymers for consumer packaging, medical, and electronics applications. |
Competes in the production of specialty plastics such as copolyesters and biopolymers for consumer packaging, medical, and electronics applications. | |
Saudi Basic Industries Corporation | Competes in the production of specialty plastics such as copolyesters and biopolymers for consumer packaging, medical, and electronics applications. |
BASF SE | Competes in multiple segments including care additives, coatings additives, functional amines, and specialty fluids for applications in agriculture, water treatment, and industrial chemicals. |
Competes in multiple segments including care additives, coatings additives, functional amines, and specialty fluids for applications in agriculture, water treatment, and industrial chemicals. | |
Competes in the production of care additives such as alkylamine derivatives and organic acids for agriculture and personal care applications. | |
Competes in the production of care additives such as alkylamine derivatives and organic acids for agriculture and personal care applications. | |
Argo-Kanesho Co., Ltd. | Competes in the production of care additives such as alkylamine derivatives and organic acids for agriculture and personal care applications. |
Bayer AG | Competes in the production of care additives such as alkylamine derivatives and organic acids for agriculture and personal care applications. |
Adisseo | Competes in the production of care additives such as alkylamine derivatives and organic acids for agriculture and personal care applications. |
Oxea | Competes in the production of coatings additives, functional amines, and intermediates for applications in building and construction, transportation, and industrial chemicals. |
Competes in the production of specialty fluids and plasticizers for applications in industrial chemicals, renewable energy, and medical devices. | |
LG Chem, Ltd. | Competes in the production of plasticizers for applications in building and construction, consumables, and medical devices. |
Lanxess AG | Competes in the production of plasticizers for applications in building and construction, consumables, and medical devices. |
Competes in the production of intermediates such as oxo alcohols and acetyl derivatives for industrial chemicals and building applications. | |
Lonza | Competes in the production of intermediates such as oxo alcohols and acetyl derivatives for industrial chemicals and building applications. |
Ineos Group Holdings S.A. | Competes in the production of intermediates such as oxo alcohols and acetyl derivatives for industrial chemicals and building applications. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Ai-Red Technology (Dalian) Co., Ltd. | 2023 | In the first quarter of 2023, Eastman completed the acquisition of Ai-Red Technology (Dalian) Co., Ltd. for approximately $75 million net of cash acquired, enhancing its Advanced Materials segment with performance films for the Asia Pacific auto and architectural markets. |
Recent press releases and 8-K filings for EMN.
- Q1 2025 results were announced with a focus on strong operational performance in the methanolysis program, including an 85% yield and a production rate on track to deliver higher volumes, contributing around $25 million in earnings from cost benefits.
- Guidance for the Renew segment was revised downward due to tariff-related challenges affecting consumer durables, with revenue expectations adjusted from a previous $75–100 million range to a new $50–75 million outlook.
- The company foresees a $30 million impact in Q2 from tariff-driven volume reductions, emphasizing that the effect is due to lower sales volumes as customers pull inventory rather than higher duty costs.
- Despite uncertainties, management emphasized a stronger focus on cash flow generation over earnings guidance, supported by extensive working capital initiatives and diversified production assets to mitigate recession risks.
- Strong Q1 financial performance: Reported sales revenue of $2,290 million, GAAP diluted EPS of $1.57, and adjusted EPS of $1.91 in line with guidance, representing a 19% YOY increase in adjusted EPS.
- Improved operating results: Adjusted EBIT reached $311 million (up from $274 million YOY) with a margin expansion of 170 basis points, driven by cost discipline and operational improvements.
- Focused cost management amid uncertainties: The company noted increased cost reduction initiatives and actions to manage tariff impacts and trade uncertainties, alongside a notable operating cash outflow of $167 million compared to $16 million last year.
- Eastman Chemical Co discussed its Q1 performance at an industrial conference, noting that while stable markets and its Additives & Functional Products segment are performing well, other segments like Chemical Intermediates face headwinds from natural gas cost pressures and currency fluctuations.
- Management emphasized growth initiatives such as expanding methanolysis capacity and achieving enhanced EBITDA through operational efficiencies and multi-year pricing contracts to ensure margin stability.
- The update also highlighted progress on the Longview plant project, including securing baseload contracts (e.g., with PepsiCo) and advancing DOE-funded initiatives with an award of up to $375 million to support circular solutions and capacity expansion.