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Last $78.74 USD
Change Today +2.52 / 3.31%
Volume 2.9M
EMN On Other Exchanges
New York
As of 8:04 PM 05/1/15 All times are local (Market data is delayed by at least 15 minutes).

eastman chemical co (EMN) Key Developments

Eastman Chemical Company Reports Earnings Results for the First Quarter of 2015; Provides Earnings Guidance for the Year 2015

Eastman Chemical Company reported earnings results for the first quarter of 2015. For the quarter, the company reported earnings, excluding non-core or non-recurring items, of $1.84 per diluted share versus $1.61 per diluted share for first quarter 2014. Reported earnings were $1.14 per diluted share versus $1.52 per diluted share for first quarter 2014. Sales revenue was $2.4 billion, a 6% increase compared with $2.3 billion in first quarter 2014, primarily due to sales revenue from the Taminco Corporation, Commonwealth Laminating & Coating Inc., and aviation turbine oil businesses acquired in 2014 partially offset by lower selling prices primarily due to lower raw material and energy costs. Operating earnings were $435 million compared with $383 million for first quarter 2014. The increase was primarily due to both improved spread, as lower raw material and energy costs exceeded lower selling prices, and earnings from acquired businesses. These were partially offset by lower earnings in the Fibers segment, an unfavorable shift in foreign currency exchange rates, and the negative impact of propane hedges. Reported operating earnings were $311 million compared with $361 million for first quarter 2014. Net cash provided by operating activities was $91 million against net cash used in operating activities of $30 million a year ago. Free cash flow was negative $34 million for the quarter. Capital expenditures totaled $125 million. The company effective tax rate for the quarter was 27%. For the full year of 2015, the company expects capital expenditures of between $700 million and $725 million, tax rate will be between 26% and 27%, reflecting the continued benefits of improved business operations. The company continue to do what company can to be at the lower end of that range.

Eastman Chemical Co. to Report Q1, 2015 Results on Apr 30, 2015

Eastman Chemical Co. announced that they will report Q1, 2015 results at 5:00 PM, US Eastern Standard Time on Apr 30, 2015

Eastman Chemical Co., Q1 2015 Earnings Call, May 01, 2015

Eastman Chemical Co., Q1 2015 Earnings Call, May 01, 2015

Eastman Chemical Company Announces Plans to Launch Several New Amorphous Polyolefin Product Grades in 2015

Eastman Chemical Company announced plans to launch several new amorphous polyolefin (APO) product grades in 2015. These launches are made possible by upgrades at the company's Longview, Texas site, including enhanced capability to deliver molten product to customers and improvements of existing equipment to handle new production. The announcement marks Eastman's first new polyolefin product launch in several years. The company will begin in the second half of 2015 with an offering of butene-free APO grades for the hygiene and packaging markets, products it intends to help meet global market demand for low odor and lower temperature sprayability.

Eastman Chemical Co., Prestige Mold Incorporated Develop First-Of-its-Kind Multi-Cavity Mold for Intricate Medical Devices

Eastman Chemical Company and Prestige Mold Incorporated have collaborated to create a first-of-its-kind multi-cavity, hot runner mold for producing intricate medical parts. The specialty chemical company and precision mold manufacturer proactively created the 32-cavity mold specifically for Eastman Tritan copolyester to address future customer needs for durable medical device parts free of bisphenols A and S. Through the mold development, the companies also learned how to streamline future project startups and processes, while reducing project costs.


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