UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K 200 South Wilcox Drive (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to ______________ Commission file number 1-12626 EASTMAN CHEMICAL COMPANY (Exact name of registrant as specified in its charter ...

Eastman Chemical Company (EMN) and Rumpke Waste & Recycling have formed an alliance to address the global plastic waste challenge. Rumpke will start collecting and sorting hard-to-recycle and colored PET packaging waste later this year, materials that are typically overlooked in today's recycling ecosystem and will use 100% of this waste stream as feedstock for Eastman's molecular recycling process.  Eastman will then employ its molecular recycling technology to convert this waste stream into virgin quality ...

Financial Data and Key Metrics Changes - The company is experiencing a recovery in demand, with expectations of a significant volume increase compared to the previous year, primarily due to a lack of destocking which is estimated to contribute approximately $150 million in recovery [20][101] - The company anticipates a return to normal seasonal demand patterns, with stronger performance expected in the second and third quarters compared to the first quarter [8][80] - The EBITDA guidance for the methanolysis facility is set at $75 million for the current year, with expectations to ramp up to over $150 million by the end of 2025 [70][68] Business Line Data and Key Metrics Changes - Advanced Materials is projected to see a recovery driven by volume and mix improvements, with a significant portion of the destocking impact felt in this segment [20][101] - The Fibers segment has shown improved pricing and is fully contracted for the year, providing stability in earnings [81][59] - The company has noted a modest price reduction in the Advanced Materials and Additives & Functional Products segments due to improved raw material and energy costs, but overall margins are expected to remain stable [107][81] Market Data and Key Metrics Changes - The company is observing stabilization in various markets, particularly in personal care, water treatment, and consumer packaging, with modest growth expected in these areas [120] - The automotive market is anticipated to remain flat, with growth in electric vehicles (EVs) expected to continue, albeit at a slower pace than previously anticipated [108][120] - The company is facing challenges in the Chinese and European markets, while the U.S. market shows slightly stronger economic performance [11] Company Strategy and Development Direction - The company is focused on building a circular economy and is in the process of ramping up its methanolysis facility, with plans to replicate the plant design in future projects [4][102] - There is a strong emphasis on sustainability, with the company aiming to meet customer demands for 100% recycled content and carbon neutrality in its new plants [74][90] - The company is pursuing organic growth while remaining disciplined in its approach to potential acquisitions, particularly in the Additives & Functional Products and Advanced Materials segments [96] Management's Comments on Operating Environment and Future Outlook - Management has expressed optimism about the recovery in production volumes and the end of destocking, which has persisted for six quarters [80] - The company is cautious about the overall economic environment, noting that while some markets are stabilizing, primary demand remains low compared to previous years [120] - Management expects to see significant benefits from the methanolysis facility in the second half of the year, contributing to overall earnings growth [33][70] Other Important Information - The company is managing inflationary pressures and has implemented productivity measures to offset rising costs, with expectations of continued productivity improvements [77][30] - The Kingsport plant is expected to provide valuable insights and efficiencies that will be applied to future projects, enhancing capital efficiency [6][102] - The company is actively monitoring the policy landscape regarding circular economy incentives, particularly in the European Union and the U.S. [89][90] Q&A Session Summary Question: What is the outlook for Advanced Materials and the expected volume growth? - Management indicated that the recovery in Advanced Materials is primarily driven by volume and mix improvements, with expectations to exceed $450 million in earnings [20][101] Question: How is the company managing pricing pressures in the Fibers segment? - The company has locked in pricing through contracts, providing stability despite potential market fluctuations [71][59] Question: What are the expectations for the methanolysis facility's ramp-up and EBITDA contributions? - The facility is expected to generate $75 million in EBITDA this year, with a pathway to over $150 million by the end of 2025 [70][68] Question: How is the company addressing inflation and productivity? - Management noted that productivity measures are being implemented to offset inflation, with expectations of continued improvements in cost structure [77][30] Question: What is the company's strategy regarding potential acquisitions? - The company remains focused on organic growth while being open to bolt-on acquisitions in specific segments, particularly as market conditions improve [96]

Eastman Chemical Company (EMN) recorded a fourth-quarter 2023 profit of $310 million or $2.61 per share compared with $1 million or a penny per share in the year-ago quarter.Barring one-time items, earnings were $1.31 per share, up from 89 cents in the year-ago quarter. Earnings surpassed the Zacks Consensus Estimate of $1.28.Revenues declined around 7% year over year to $2,207 million in the quarter. The figure beat the Zacks Consensus Estimate of $2,166.7 million. Lower sales volumes due to weak end-marke ...

Loading...Loading...During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout. Benzinga readers can review the latest analyst takes on their favorite stocks by visiting our Analyst Stock Ratings page. Traders can sort through Benzinga's extensive database of analyst ratings, including by analyst accuracy. Here's a look at the most recent high-yield di ...

For the quarter ended December 2023, Eastman Chemical (EMN) reported revenue of $2.21 billion, down 7% over the same period last year. EPS came in at $1.31, compared to $0.89 in the year-ago quarter.The reported revenue represents a surprise of +1.86% over the Zacks Consensus Estimate of $2.17 billion. With the consensus EPS estimate being $1.28, the EPS surprise was +2.34%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine ...

Eastman Chemical (EMN) came out with quarterly earnings of $1.31 per share, beating the Zacks Consensus Estimate of $1.28 per share. This compares to earnings of $0.89 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 2.34%. A quarter ago, it was expected that this specialty chemicals maker would post earnings of $1.45 per share when it actually produced earnings of $1.47, delivering a surprise of 1.38%.Over the last four quarte ...

Eastman Chemical Company (EMN) and Swiss Eyewear Group (“SEG”) have collaborated to launch SEG's INVU 10th anniversary eyewear collection with Tritan Renew. Eastman’s Tritan Renew is used in every frame of the innovative eyewear series. The collection also includes a selection of polarized lenses that will enhance style while protecting eyes with unmatched clarity.INVU by SEG has established itself as an industry leader, consistently pushing the limits of frame and lens materials while remaining affordable ...

Eastman Chemical Company (EMN) is scheduled to release fourth-quarter 2023 results after the closing bell on Feb 1.The company surpassed Zacks Consensus Estimate for earnings in three of the last four quarters while missing it once. It delivered a trailing four-quarter earnings surprise of around 1.9% on average. It pulled off an earnings surprise of 1.4% in the last reported quarter.Eastman is expected to have benefited from cost-cutting and productivity initiatives, as well as its innovation-driven growth ...

Eastman Chemical Company (EMN) is gaining from its innovation-driven growth model, operational execution and cost-management actions amid certain headwinds, including soft demand and consumer de-stocking.Eastman Chemical, which is among the prominent players in the chemical space along with Celanese Corporation (CE) , Air Products and Chemicals, Inc. (APD) and The Chemours Company (CC) , is expected to benefit from lower operating costs from its operational transformation program.EMN was able to offset $1.3 ...